Quote of the week : VC’s Golden Age


July 2, 2012

“With the right segment and the right entrepreneurs you can build a billion dollar company in less than five years today, something that was impossible half-a-dozen years ago.”


Who said it: Norm Fogelsong, General Partner at Institutional Venture Partners


In Context: According to Fogelsong, the first real golden age was in the U.S. in the early 1980s, when Reagan was elected, taxes were cut, and there was an unprecedented burst of entrepreneurship. His GP made eight investments in 1980 and six of them went public within two years. Another golden age stretched from 1994 to 1999, covering the dawn of the Internet, before dotcom bubble had not yet inflated. He believes today is another such time despite “the most challenging global economies we’ve seen”. It is due to the  rapid development of the internet in the last five years. This is segment he refers to in the quote. Norm Fogelsong was one of three industry insiders (two LPs and one GP) interviewed in an article, entitled Venture Capital Roundtable: New golden age for returns? (Image Source: Institutional Venture Partners website)


Where we found it: The Triago Quarterly, March 2012

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