NAOS recently attended a US venture capital conference which was attended by some of the leading & most well capitalised US and European companies of the future. It was interesting hearing from some of the CEOs as well as industry experts about what the path to IPO entails including what that path may look like on the ASX. Today, companies are staying private for longer, the average age of companies that went public in 2014 was 11yrs vs 4ys in 1999. Much of the growth in dollars invested in venture capital over the past 12 months has been driven by the continual flow of capital to the bigger ‘unicorn’ deals, whilst (according to the NVCA) the percentage of funds going into first time deals is only 15%.