But faster price discovery doesn't actually do anything. Outside of other HFT firms, efficient pricing only matters for large events that happen on a macro timescale - share issuance, buybacks, dividends, etc.
Unless one of those macro events occurs, knowing whether a stock is worth $10 or $11 doesn't actually matter - there's no efficiency gained or resources allocated based on that difference.
Resources aren't allocated on a nanosecond timeframe, no matter how fast your trades are. Actual resource allocation happens on a weeks to months timeframe.
For industry wide statistics, something like https://www.cambridgeassociates.com/wp-content/uploads/2018/... is pretty good. All returns there are gross, not net, but they show top quartile funds returning 15-20% gross over the last decade, varying a bit year to year.
For specific fund performance, I don't know of anything public. Most of the big names have had some funds with >20% returns, usually as they get bigger those get harder to maintain.
The return profile depends a lot on the stage of VC you're at - while a 100x return might be plausible for an early angel investor (who also expects 90% of their investments to go to zero), lots of later stage VC's will be quite happy with the more consistent 5x outcome.
It's a very aspirational target. 25% annualized return (after fees) is a top decile fund. I've heard that number as a target before, but rarely and from investors that weren't used to the market. 12-15% from public markets is a top quartile hedge fund, still a great return but a little less aggressive than the VC number.