E382: Why Venture Capital Has a $3 Trillion Liquidity Problem

E382: Why Venture Capital Has a $3 Trillion Liquidity Problem

From How I Invest with David Weisburd by David Weisburd

June 3, 2026 · 34 min · Episode 382

About this episode

The episode discusses the liquidity problem in venture capital and how the ecosystem is evolving with insights from Ravi Viswanathan.

What if the biggest opportunity in venture today isn’t finding the next unicorn—but solving the liquidity problem created by companies staying private twice as long as they used to? In this episode, I sit down with Ravi Viswanathan, Founder and Managing Partner of NewView Capital, to discuss how the venture ecosystem is evolving beyond the traditional fund model. Ravi explains why he left NEA to build a firm focused on liquidity solutions, how company-led secondaries are becoming a critical tool for founders and employees, and why the future of venture may depend on balancing long-term ownership with thoughtful liquidity. We also explore the DPI drought, continuation vehicles, cap table management, and why relationships remain the ultimate source of edge in venture capital.

People in this episode

Host: David Weisburd

Guest: Ravi Viswanathan

Topics covered

  • venture capital
  • liquidity problem
  • private companies
  • fund model
  • company-led secondaries
  • DPI drought
  • cap table management

Keywords

  • venture capital
  • liquidity solutions
  • unicorns
  • secondaries
  • DPI drought
  • continuation vehicles
  • cap table management

Mentioned in this episode

Organizations: NewView Capital, NEA

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