Large asset managers’ participation in venture capital deals is nothing new. But it has only grown in recent years, and non-traditional investors are now going downstream even more, participating in outsized seed deals. The competition that has emerged will likely impact VC for years to come.
'Most companies are, in some ways, becoming a fintech company,' says Addie Lerner of Avid Ventures, as the fintech industry grows to record heights this year. The future of the industry might exist beyond US borders.
Venture capital is in the midst of another record year marked by record dealmaking at early and late stages, the introduction of huge swaths of capital from non-VC investors and record numbers of mega-deals driving valuations to new heights.