Venerable VC Alan Patricof: "We don't invest in young companies to take them public"

Sure the IPO market has been shut for some time and the prospects don't look good, but it's still a bit of jolt to read that one of the industry's most respected venture capitalist tells The Deal's TechConfidential that he is not planning for IPO exits for his 24 companies.  Here's what he says:

"We have 24 companies in our portfolio, and when we were considering investing in any of them, we didn't say, 'We're going to take this public in two years or three years and try to extrapolate a public valuation.'

We approach the market on a very realistic basis, and I think most people in the business do. For the most part, our companies are either going to make it on their own as freestanding enterprises that generate their own profitability and cash flow, or they're going to be sold to another company."

Here is a video interview of Patricof done by TechConfidential's Mary Kathleen Flynn.

Patricof is listed as the number 5 of the 100 most influential executives in New York by the Silicon Alley Insider.

-- Andy Plesser, Executive Producer

Disclaimer:  The Deal is a client of Plesser Holland for video production work and public relations services. Our staff produced this video for The Deal.