The New Horsemen?
When speaking with venture capitalists about what caused the great IPO market stall of the past year, a commonly cited contributing factor is the fade -out of the boutique investment banks that used to underwrite small- and mid-sized offerings. The ones most closely associated with tech IPOs prior to the dotcom bust – Robertson Stephens, Hambrecht & Quist, Montgomery Securities and Alex Brown – used to be called the “four horsemen.” Since then, however, they’ve all been folded into larger banks. And the big
4 February 2009•1 min read
