…a new wave of venture investors, particularly sovereign wealth funds and other international LPs, have stepped in to help fill the gap, changing LP dynamics
The famous tale tells the story of an emperor who is conned by a unscrupulous tailor, who tells him that his new clothes are only visible to those that are clever and worthy of their positions. Neither the emperor nor his subjects want to admit that he is naked for fear that they will seem ignorant or incompetent.
â€œThe composition of the investors does make me a bit nervous,â€ said Piette. â€œThere are certain new investors flooding in that are afraid to admit that they canâ€™t see the emperorâ€™s new clothes.â€