%0 Journal Article %A Michael D. Smith %T PIPEs %B Better for VCs than LBOs? %D 2002 %R 10.3905/jpe.2002.320026 %J The Journal of Private Equity %P 66-71 %V 5 %N 4 %X LBO funds made many risky gambles in PIPEs beginning in 1999, and several prominent firms were badly burned. The depressed prices of many venture-backed public companies have attracted the attention of venture capitalists, but VCs can learn several lessons from the failures in the LBO sector. This article explores those lessons. %U https://jpe.pm-research.com/content/iijpriveq/5/4/66.full.pdf