What Biotech Can Teach Us About Long Duration Investing
Every investor in long-duration, capital-intensive sectors eventually faces the same question: what do you do when the exit markets close and your companies still need years of funding? Keith Crandell answered it the hard way. His firm, ARCH Venture Partners, started as a University of Chicago experiment with a $9 million fund that took 15 months to raise, then hit biotech's "nuclear winter," leading to six years in the 1990s with just a single portfolio IPO.
In this conversation with S2G's Aaron Rudberg from this year’s Summit, Keith walks through the strategies he has honed over the last…
The skinny
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