Back to basics: Why VC needs to change

Editor’s note: this is a guest post from Shmuel Chafets, general partner and vice chairman at investment firm Target Global.

It is now clear that we are on the tail end of the eleven-year bull market in the VC world.

It was obvious it would not last forever, but it was absolutely unexpected that this would be the way it ends. The combination of a once-in-a-century public health crisis and a complete meltdown of the financial markets is a lot to take in. But it is important to remember that the healthcare and financial crises, while of course closely connected, are not exactly the same. We must be careful to deal with both separately.