Bronte Media

In establishing his conclusion, Greycroft partner Alan Patricof offers an excellent history of venture capital and the way it used to be.

“If the scenario I have described strikes a chord of reality, then until someone solves the cost of going public and increases the liquidity in aftermarket trading, we as an industry have to downsize our expectation for exits as well as downsize the size of our funds. We still can produce significant returns for investors, but we cannot accommodate the size to which funds have grown in the past decade.”