VCs: Secondary Funding Markets Are A Double-Edged Sword

A lot of things have changed in Silicon Valley in recent years -- apps have access to a plug-and-play social infrastructure provided by the likes of Facebook and Twitter, the mobile boom has truly made the post-PC world a reality, services such as cloud computing allow startups to function at leaner levels than ever before, and so on. But for founders and investors, perhaps one of the most significant shifts has come from the increasingly common occurrence of late-stage funding rounds that are largely secondary stock purchasing situations. In a panel discussion held last night by Wealthfront at the Rosewood Hotel, the longtime Silicon Valley dealmaking hotspot, VC heavyweights Sameer Gandhi of Accel Partners, Bill Gurley of Benchmark Capital, and Doug Leone of Sequoia Capital discussed the upsides and downsides of this seemingly unstoppable trend.

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