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We had a group that was doing small growth capitalinvestments in Germany and Switzerland at that time, a fund doing secondaries. It used to be the private market were where you went to bet, speculative investments. This is where you went to get your risky venturecapital exposure, or your highly leveraged equity exposure.
I can even invest again a week or a month later at a different price, taking into account any value creation in real-time that more fairly protects the entrepreneur. This is truly a model that couldn't exist in venturecapitalinvesting 5-10 years ago. Beyond that, we need to change the accreditation laws themselves.
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