Further evidence in today's FT of the decline in the role of the UK's AiM public market as a place for businesses (especially technology) to raise money. As a VC this can be helpful - less competition or frothy valuations - but it has removed one well-worn exit route for those high growth businesses that succeed. This may explain why investment holding periods have lengthened, and the validity of so called 'unicorns' are increasingly questioned .
Alternatives, such as Secondary markets, Overseas exchanges and PE's renewed interest in the Tech sector, have all filled the gap to some extent . That said, it still feels frustrating that the rampant public interest and investor enthusiasm for all things technology is struggling to connect with public fund-managers.
But the number of Aim-listed companies has fallen even faster: it is below 1,000 for the first time since 2004, down more than 40 per cent from the peak in 2007. Last year only 38 fully fledged initial public offerings were floated.