My answer would be dependent upon what your goals and risk tolerances are.
If your goal is to get the largest potential return on your investment, venture capital is definitely the way to go. Find someone who is intelligent and business oriented, who has good ideas but who is lacking the capital required to put them into action.
If you have a long time horizon(20+ years) and want to minimize risks, buy some stock index funds. If you have a short time horizon (1-10 years) and want to minimize risks, buy some bond index funds.
If you really have no clue what to do with your money, you can always give it to me and I'll put it to good use.
[J/K]