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Would you rather be a real millionaire or a paper billionaire? The psychology of unicorns and the toll on Q1 returns | PandoDaily
And yet total cash going to venture backed companies was a whopping $17.7 billion– up over the $12.6 billion raised in the same period last year. But here’s the thing: Only $11.3 billion of that came from venture firms, throwing into question whether we should even still keep using the adjective “venture-backed” to describe the category. The disparity shows just how much more money is coming from non-VCs like hedge funds, private equity, mutual funds, and sovereign wealth funds, who have watched the private valuation growth of Facebook and the rest of the deca-corns and are desperately trying to get a stake in private companies before they IPO. [...] Things have gotten strange for VCs — and in turn, entrepreneurs — and the climate doesn’t seem to be improving
Private  Equity  Hedge  Fund  Mutual  Fund  growth  round  Venture  Capital  Silicon  Valley  Unicorn  hunt  for  yield  Sovereign  Wealth  Fund  distortion  ZIRP  NIRP  QE  bubble  bond  bubble  debt  bubble  zombie  corporations  zombie  banks  Super  Cycle  savings  glut  liquidity  trap  productive  investment  speculative  bubbles  Wall  Street  incomplete  information  market  confirmation  bias  pattern  matching  pattern  recognition  selection  bias  bias  behavioral  finance 
april 2015 by asterisk2a

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