why not VC as an exit opp?

It seems like a lot of bankers and people on WSO are interested in PE/HFs as a post-banking career, but why not venture capital? Are the skill sets not transferable or something? Or is it because VCs tend to have more elongated investment horizons and the returns aren't as immediate? In PE, I guess you're more focused on buy-outs of mature companies, while in venture capital, you're in the seed/early growth stage of capital funding of start-ups and don't really see anything come to fruition until the exit phase (IPO, acquisitions, etc). Another possible reason I can think of is that it's a lot more difficult to break into VC than it is to break into PE/HF. VCs don't generally need bankers in the traditional sense; they're more interested in entrepreneurs and BizDev/tech-incubator types.

I could be totally mistaken, but if you can break into VC the perks seem to be even better than PE. Shorter hours, equal pay, less public sector interference, and livin life in northern California. Plus something about saying you're a venture capitalist just sounds sexy.

What's everyone's view on VC as a post-banking career?