Sluggish IPO Market Hurts Private Equity And Venture Capital

"The market for initial public offerings is having a sale!
'It's a good time to buy IPOs,' said Kathy Smith, principal of Renaissance Capital. 'It's a buyers market because investors are being picky and they want a discount.'
But what's good for buyers isn't all that good for venture capital firms and large private equity firms, which rely on a healthy IPO market to cash out some of their investment portfolio. Just 10 venture-backed companies came public in the first quarter, the fewest in six quarters.
That's causing an exit-strategy adjustment.

[IBD]