Rewriting The Rules Of Venture Capital

To David Blech, rebel venture capitalist extraordinaire, the orthodoxies of his field are too stodgy. At first glance, venture capital may sound like a high-wire endeavor: VC firms risk their investors' money to fund startups. But the truth is that the VC community is a pretty conservative bunch. They prefer to parcel out equity investments piecemeal, a year at a time, depending on the outfit's progress. The payoff can take as long as seven years, until the company is mature enough to sell stock to the public.

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