BA Venture Partners - News: BAVP News: "Venture capitalists also sometimes accept lower ownership stakes, as many mature firms have a passel of existing investors. That means lower profits for the new investors when a company finally goes public or is sold. Plus, many investors simply 'don't want to fix the mistakes of their competitors,' says Crosslink's Mr. Stark.
But the likelihood of at least a passable return on a late-stage company looks attractive to many down-on-their-luck venture investors these days.
'Over the last five years, we haven't made a whole lot of capital gains for our customers,' says BA's Mr. O'Driscoll. 'So no one's going to sit there and get all virginal and say, 'I don't want to go late [stage] -- I don't want to make money.''"
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