Did the Venture Firms Make Money from the Bubble?
The investment banks pocketed large fees for taking public Internet companies. This is in the public record. But it's very hard to determine how well or how badly venture firms and angels did. Certainly there were some big winners, but there were also losers. Comprehensive data does not exist to tell us the full story. Neither venture firms nor angels are required to make public their finances.
Some early investors sold out before an IPO, for this can be done with the permission of other investors. These were not sales to the public, but to other individuals or institutions who were acceptable buyers to the other early investors in a company. Unfortunately, the only way to know about this is by ...
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