As companies stay private longer, VC firms, like Spark, Gigafund, and Greenoaks, are investing in companies later on and buying stakes without seeking influence
THE SO WHAT
Late-stage VCs buying passive stakes in companies that stay private longer means more capital with fewer governance strings attached—founders keep control while cap tables get denser. For operators, expect higher valuation pressure and more inside rounds, but less board-driven discipline until much closer to IPO or liquidity.
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