Word: borgdorff
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Dates: during 2002-2002
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...Borgdorff, managing partner of fund investments at Amsterdam's NIB Capital Private Equity, which has j11.5 billion to invest in private equity partnerships, says bringing in outside business people to salvage portfolios is part of a general restructuring of the VC industry in Europe. "Venture capital needs to rethink its business model," Borgdorff says. Smaller VC firms are already testing new models. London's Ariadne Capital, for example, acts as a sales agent for its companies, taking a slice of the revenues as they are created, rather than waiting for an exit strategy - like an initial public offering...
...will more traditional venture capitalists. "The willingness of investors to back venture capital funds and firms going forward in Europe has decreased quite dramatically," Borgdorff says. When the dust from the shakeout settles, some may get a second wind - but most will probably not get a second chance...
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