The Changing Venture Landscape
Both Sides of the Table
SEPTEMBER 10, 2021
In 2001 companies IPO’d very quickly if they were working, by 2011 IPOs had slowed down to the point that in 2013 Aileen Lee of Cowboy Ventures astutely called billion-dollar outcomes “unicorns.” If we wanted to we could have sold > 2x the fund easily in the secondary markets with significant upside remaining. of the fund.
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