Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
Venture capital funds continue to face blocked exits for their portfolio companies. This has restricted limited partner commitments to new funds. Ventures face a capital markets drought as a result.
In the third quarter, venture funds captured less than $40 billion of liquidity from sales and initial public offerings of their companies.
The diminished supply of capital distributions to limited partners has weakened fundraising by general partners. Founders face a diminished fundraising environment as a result.
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