In this presentation, Keith Black, PhD, CAIA, CFA, FDP, Managing Director of Content Strategy at the CAIA Association described and compared the many ways that entrepreneurs and their private equity owners can exit their ownership in a private company. While IPOs have declined in importance in recent years, there has been an increase in strategic mergers, financial mergers, and secondary buyouts. More recently, a growing number of companies have sought to become publicly traded through direct listings and special purpose acquisition corporations (SPACs). Keith’s presentation was followed with a discussion with Cameron Stanfill, CFA, Venture Analyst at Pitchbook Data who provided an update on SPACs and the current market environment for exits in public companies.
The Fundamentals of Venture Capital Across the Liquidity Spectrum: SPAC’s - Session 2 of a Series