The stage has been set for a disruptive return of the “Small IPO” to the private equity marketplace (Seed, Series A, B etc.). This go-around, the liquidity boom will not be the exclusive provenance of the Four Horsemen (Alex Brown Inc., Hambrecht & Quist, Robertson Stephens & Co., and Montgomery Securities), the four boutique investment banks that drove liquidity for Silicon Valley during the boom. The new incarnation of the Four Horsemen will be in the form of crowdfunding marketplaces, not investment banks.
{iframe}http://medcitynews.com/2015/04/sec-set-stage-healthcare-investing-explosion/{/iframe}