<ul><li>Venture capital firms are facing challenges with exiting investments as the traditional pre-seed to IPO playbook becomes less common.</li><li>The number of IPOs has decreased, acquisitions have slowed, and regulatory scrutiny has increased, leading to a lack of liquidity in the venture capital market.</li><li>Most VC-backed companies are exiting at prices that cannot support venture-scale returns, with many being fire sales, acquihires, or exits at valuations below prior rounds.</li><li>There is a growing backlog of private companies valued over five hundred million dollars, creating pressure on fundraising and leading the industry to seek new ways to unlock liquidity.</li></ul>

Why Venture Capital Needs a New Exit Playbook

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