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1·Some have raised money from other angels and in effect become small VC funds themselves.

有些也会从其他赞助人那里借款，事实上他们本身已经形成小型风投基金。

2·VC funds are less likely to squeeze (read, alienate) an angel who they know is a great source of ventures.

风投基金似乎不太排挤(猜忌，疏远)他们所知道的手头有大量创业者的赞助人。

3·All that cash has also inflated valuations of fledgling businesses, making it harder for VC funds to turn a profit on them.

所有的资金都追捧那些羽翼未丰的公司，这时vc想从中获利也变得困难。

4·The dire state of the IPO market and the mergers-and-acquisitions business means VC funds will have to hold on to firms for far longer than planned.

IPO市场和合并收购事项的严峻形势意味着风投将不得不持有这些公司的股权比预计的更久。

5·In my opinion, VC motivations are really tied entirely to the quality and caliber of the people you are dealing with at the various funds.

我认为，风险资本的动机完全因基金管理者的质素和才能而异。

6·Ron Conway had angel funds starting in the 1990s, and in some ways First Round Capital is closer to a super-angel than a VC fund.

Ron Conway在1990年代启动了天使基金，从某种程度上说第一回合资本公司更接近一个超级天使而不是风投基金。

7·A normal VC fund raises a new fund every three years if it is a strong performer but, in recent years, there have been some VC firms that have literally raised new funds inside of 18 months.

正常来说，业绩很好的风投基金每三年会筹集一支新基金。但在最近几年，一些风投基本上18个月内便会募集新基金。