New Allies
Family businesses and venture capitalists are finally seeing eye to eye.
In the past few years, family businesses and private investors have begun taking sidelong glances at each other--something they've rarely done before. The reason: They're beginning to need each other.
The good news for family businesses is the investment capital pool is getting deeper, according to François de Visscher, president of de Visscher & Co, a Greenwich, Connecticut, company that specializes in finding capital for family-owned businesses. The soaring stock market of the past few years has netted investors sizable profits, which many have harvested. Reluctant to jump back into a pricey market, many investors are looking for new places to put their money. When they look at the numbers, they're finding family businesses may be the answer: At least 2 million family firms in the United States have revenues greater than $1 million, and 31,000 have annual sales topping $25 million.
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