VCs maintaining unadjusted peak valuations are delusional and lose LP trust
Logan Bartlett · Logan Bartlett: WTF is Happening at Growth Stage Investing? | 20VC #920 · 20VC with Harry Stebbings · Aug 30, 2022 · at 26:05
Logan Bartlett is a Managing Director at Redpoint. He discusses venture capital fund managers who refuse to mark down late-stage private portfolio holdings following public market corrections.
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“It is some level of delusion. If you actually believe That all of these companies are worth what they were worth six months ago, then and you're saying that with a straight face to your limited partners, and I think you're losing trust, right? A hundred percent. I don't think you can be a prudent manager and look every person in the eye and say, hey, this is worth exactly what we thought it was worth six months ago.”
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