I had the pleasure of moderating a venture capital discussion for boutique investment bank Iron Capital Partners recently.
It was a lively debate, since each of the participants came from a different aspect of the venture business (see video after the jump). There was one VC, two secondaries buyers, an I-banker and the head of an online exchange where accredited investors can buy or sell shares in private companies.
One of the principal questions I asked was: If someone wants to get into VC today, where’s the best place to put his or her money? Should he invest in a primary VC fund or go with a secondary fund? Or should he avoid funds altogether and buy shares of Facebook on an online exchange such as Sharespost? This led to a very interesting discussion about the poor performance of venture as an asset class over the past 10 years and some interesting perspective about where it will go in the next decade.