Marshall: Expanding market value of tech companies justifies venture capital mega-funds
Woody Marshall · 20VC: Learnings From Backing The Likes of Spotify and Airbnb, The World of Growth Investing Today and The Right Way For Investors To Think About Liquidity with Woody Marshall, General Partner @ TCV · Oct 8, 2018 · at 13:40
Woody Marshall, General Partner at TCV, addresses whether the recent rise of billion-dollar venture mega-funds is supported by underlying market growth.
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“The first thing I would say is if you look at the size of the global technology pie, it's bigger than ever before. You know, look at the top 10 highest market cap public companies today. You know, Apple's over a trillion dollars. I think five years ago was probably worth four hundred billion dollars. Obviously, that's pretty significant then, but the size of the prize is bigger than it's ever been before, so that certainly justifies the increase in capital being deployed in the, you know, in the sector, and there have been some funds that are deciding to take more of that opportunity and write larger and larger checks.”
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