Herds of starving unicorns…

The Wall Street Journal has reported that tech companies made up only 11% of year-to-date IPOs, the lowest percentage since 2008. Amazingly – or rather disturbingly depending on your viewpoint – VC investors now have at least 117 companies valued at US$1Bn or more (ie the Unicorns), and the investors may be facing an IPO market that will not allow them to cash out.