ISSUE – July 13 | VCs say too few “unicorn” IPOs is causing liquidity crunch

Law firm Lowenstein Sandler recently hosted dozens of venture capitalists and limited partners in San Francisco to discuss some of the latest trends in their business. Axios sat in on a discussion about “unicorns”—startups valued at more than $1 billion—and late-stage investing. Highlights:

  • Uber will be fine.
  • Liquidity needs are growing, which means that secondaries are becoming more common.
  • VC rounds are taking longer to complete, in part due to increased competition within niches.