Rarely. The proceeds are generated, typically, when either the company goes public, and therefore their stock is liquid and the investors are able to sell their shares for cash, or they're acquired, and then the shares are then traded for cash or stock in the acquiring company, which then can become cash.
That's typically what happens. When the company down below reaches an exit event, as it's called, then those dollars flow back up to the fund that's invested into them, and that fund, in turn, pays their investors, one of which might be one of the VCAP funding issues.