Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
The venture capital drought persists. Anemic capital flows continue to affect fundraising and investing activities. Founders should not expect a sudden reversal toward abundant financings in the near future.
The capital contraction has been foreseeable. Despite the rebound in the stock market, exit opportunities for venture capital backed firms through merger and acquisition and initial public offering transactions have remained anemic. The resulting dearth of cash distributions to limited partners of venture capital funds has caused these investors to reduce or eliminate their commitments to new funds.
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