Renowed VC Alan Patricof leaves Apax to start a new — and small — fund: $50 million vs. Apax’ $20 billion that will be invested in only 12-14 early-stage companies. I’m among those who’ve been speculating about a restructuring of the VC biz in a world where companies need less money. I’d say this is evidence of the transformation.
Byline
by Jeff Jarvis