Two articles, one from the New York Times and the other from the San Jose Mercury News, recently evaluated the current state of venture investing. In “Will the eternal optimism of venture capitalists survive 2009?” Chris O’Brien of the San Jose Mercury News calls 2009, “a pivotal moment for the valley's lifeblood industry.” He goes on to say:
Alan Patricof, managing director of Greycroft Partners weighed in with another viewpoint in an article that appeared on the New York Times Deal Book website. In his article, “V.C. Investing Not Dead, Just Different” Patricof reflects on the changing nature of start-up exits and VC funds, concluding with:
As a company that weathered the first tech bubble, there’s no question at Greenough that we’re facing something entirely new. While we’ve never seen anything like this – even compared to other down cycles – we do have recent lessons to learn from and build on. Just as VCs are looking at the investment landscape through a new pair of binoculars, we as communicators must make adjustments. We’re speaking to a new audience, in a new climate, with a new set of priorities.