Mar 10, 2026

Dan Gray

Why Large VC Firms Deliberately Keep Companies Private to Maximize Fee

The venture model breaks down when investors prefer permanent portfolio holdings over exits.

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Murph capital is a new media and community for the next generation of emerging managers and allocators

PROUDLY builT IN USA

HANDCRAFTED by:

@Grivitsky

Substack

Main

home

Podcasts

Templates

Data

Funds

Events

Reports

Soon

about us

Community

Store

Murph capital is a new media and community for the next generation of emerging managers and allocators

PROUDLY builT IN USA

HANDCRAFTED by:

@Grivitsky

Substack

Main

home

Podcasts

Templates

Data

Funds

Events

Reports

Soon

about us

Community

Store

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