As 2011 came to a close, we asked several venture capital investors to reflect on the past year and give us their outlook for 2012. Continuing our series is Paul Madera, managing director of Meritech Capital Partners.
Madera discusses how his firm had a good year for exits and the need for market stability for the industry as a whole.
Looking back, how would you characterize 2011?
Three things come to mind–liquidity, growth and high prices for deals. In this cyclical business of venture investing there are great times for liquidity and great times to invest. And 2011 was a great time for liquidity. Across the Meritech portfolio we saw 12 exits. Last, pricing of new investments into deals has been high, so it’s been a great year for companies to raise capital and minimize dilution.
To read the full, original article click on this link: VC Outlook: Meritech’s Madera Says ‘Right-Sizing’ Will Help Venture Industry - Venture Capital Dispatch - WSJ
