Dixon Doll is tired of waiting for the economy to turn around and revive the market for venture-backed IPOs. The chairman of the National Venture Capital Association isn’t even convinced that an economic recovery will be enough to fix the problem—just six VC-backed companies have gone public this year, collectively raising less than $500 million, compared to 86 VC-backed IPOs that raised $10.3 billion last year.
At the NVCA’s “35th Anniversary Celebration” in Silicon Valley last week, Doll told the crowd that the group plans to organize three regional “blue chip task forces” to come up with suggestions for how to fix the problem. The groups of 12 to 15 IPO experts will convene in Boston, New York and San Francisco in November.
“We plan to generate lots of recommendations, gather them together, then go back to the media and new Administration next year and make a big deal,” Doll said.
Reportedly, Paul Denning of investment bank Jefferies & Co. presented a report to the NVCA board last week that outlined some potential fixes. —Lawrence Aragon