If I understand this blog post correctly, it seems to be suggesting that sovereign wealth funds would be potential investors for startups and that they would be ideal investors because they would not be seeking a short-term exit/liquidity event.

That seems unlikely to me, given the risks inherent in startups, and the fact that the VCs drive for rapid ROI is arguably an important source of focus for proving/disproving a business model before you burn through too much capital.