--- title: Aman Verjee on Why Capital Recycling Could Help Fuel the Next Era of Innovation and Entrepreneurial Growth description: Aman Verjee on Why Capital Recycling Could Help Fuel the Next Era of Innovation and Entrepreneurial Growth canonical: https://time.com/branded-content/apg/aman-verjee-on-why-capital-recycling-could-help-fuel-the-next-era-of-innovation-and-entrepreneurial-growth/ article:opinion: false article:content_tier: free article:published_time: 2026-08-18T14:08:32.868Z article:modified_time: 2026-08-17T22:40:57.546Z article:section: Branded Contributor Content og:title: Aman Verjee on Why Capital Recycling Could Help Fuel the Next Era of Innovation and Entrepreneurial Growth og:description: Aman Verjee on Why Capital Recycling Could Help Fuel the Next Era of Innovation and Entrepreneurial Growth og:url: https://time.com/branded-content/apg/aman-verjee-on-why-capital-recycling-could-help-fuel-the-next-era-of-innovation-and-entrepreneurial-growth/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt6933802f6a579e97/6a838d74747a8621d2c29bd9/image1_(4).png?branch=production&width=800&quality=75&auto=webp&crop=16:9 og:image:width: 800 og:image:height: 450 og:image:alt: TIME og:type: article twitter:card: summary_large_image twitter:title: Aman Verjee on Why Capital Recycling Could Help Fuel the Next Era of Innovation and Entrepreneurial Growth twitter:description: Aman Verjee on Why Capital Recycling Could Help Fuel the Next Era of Innovation and Entrepreneurial Growth twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt6933802f6a579e97/6a838d74747a8621d2c29bd9/image1_(4).png?branch=production&width=800&quality=75&auto=webp&crop=16:9 --- # Aman Verjee on Why Capital Recycling Could Help Fuel the Next Era of Innovation and Entrepreneurial Growth > Sponsored content. 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They are at time.com/newsletters and are separate from a paid subscription.  Aman Verjee Aman Verjee (Source: Aman Verjee) Aman Verjee, founder and General Partner of [Practical Venture Capital](https://practicalvc.com/) (PVC), observes that for decades, venture capital has largely been associated with deploying capital into promising young companies. He believes the next chapter may place greater emphasis on how efficiently that capital returns to the innovation ecosystem. Verjee’s perspective is informed by more than 20 years of leadership across companies. His experience across both public and private technology businesses has provided a close view of how financial systems evolve alongside innovation and why liquidity has become an increasingly important part of that conversation. Those observations seem to arrive at a time when venture capital continues to play a significant role in economic growth while adapting to changing market conditions. Investment into the venture capital asset class in 2026 so far is on pace to [shatter all previous records](https://siliconangle.com/2026/07/02/global-venture-funding-hits-record-510b-first-half-ai-boom-accelerates/). However, according to Verjee, exit activity for private companies remains relatively subdued. This seems to have contributed to longer holding periods for investors. For Verjee, those developments suggest that supporting innovation extends beyond funding startups to ensuring capital continues moving through the ecosystem. “Innovation flourishes when ideas, talent, and capital continue finding each other,” Verjee says. “Every generation of founders builds on the opportunities created by the generation before them. The more efficiently that cycle operates, the more opportunities may emerge for entrepreneurs, employees, and investors.” That perspective shifts attention toward a challenge that, as Verjee observes, often receives less discussion than fundraising or company valuations. He believes innovation is influenced not only by the number of startups entering the market but also by how quickly capital becomes available to support the next generation of businesses. “Over the past two decades, I’ve seen successful technology companies increasingly remain private for longer while continuing to raise substantial amounts of capital,” Verjee explains. “Although this can give founders additional flexibility to grow their businesses, it also extends the timeline before early investors, employees, and shareholders can access liquidity.” A [2026 report](https://kpmg.com/xx/en/what-we-do/industries/private-enterprise/venture-pulse.html) illustrates this evolving environment. Global venture investment remained strong during the first quarter, but it was largely supported by artificial intelligence and later-stage funding activity. At the same time, investment became increasingly concentrated, highlighting the growing importance of efficient capital circulation alongside new investment. For Verjee, this broader perspective also extends to history. His forthcoming book, [_A Brief History of Financial Bubbles_](https://bigbubbletrouble.com/), scheduled for release in August, examines financial manias spanning several centuries. While each unfolded under different circumstances, the book explores recurring patterns in market behavior and the importance of financial structures that support healthy capital flows over time. Those ideas also help explain why secondary markets appear to be more relevant. Verjee’s work at Practical Venture Capital focuses on venture secondaries, which provide liquidity opportunities for founders, employees, investors, and institutions during a company’s growth journey. He argues that these transactions are evolving into an important part of the innovation ecosystem by allowing capital to be recycled without requiring companies to pursue a public listing. The implications, Verjee notes, extend well beyond individual portfolios. Longer holding periods may limit participation for investors who balance venture allocations alongside taxes, succession planning, or other financial priorities. Larger institutions often have the flexibility to invest over much longer horizons, while many individuals and family offices may require greater access to liquidity over time. “That evolution deserves thoughtful discussion,” Verjee says. “Entrepreneurship in America can benefit from a broad community of participants. Expanding opportunities for different kinds of investors can expand opportunities for founders as well.” Verjee also notes that liquidity has broader economic implications. “Earlier generations of technology companies created most of their shareholder value as publicly traded businesses, allowing a wide range of retail investors to participate in wealth creation alongside institutions,” he shares. Verjee observes that today, most value creation in the best technology startups occurs while companies remain private. Creating additional liquidity pathways, he suggests, could encourage broader participation while allowing capital to support successive generations of entrepreneurs. The fundraising environment reflects similar dynamics, according to Verjee. Venture capital, in his view, depends on a continuous cycle of investment, company growth, liquidity, and reinvestment. When exits take longer to materialize, limited partners may delay commitments to new funds, emerging managers may encounter additional fundraising challenges, and valuations for venture-backed companies suffer. Against this backdrop, Verjee believes secondary markets are evolving from a specialized segment into an increasingly permanent part of venture infrastructure. More structured liquidity opportunities can provide flexibility for founders, employees, and investors while potentially contributing to healthier capital circulation throughout the ecosystem. As Verjee prepares to release _A Brief History of Financial Bubbles_, he hopes the conversations surrounding market history and healthy capital markets encourage a broader discussion about the future of innovation. He remarks, “The next chapter of venture capital is likely to focus as much on keeping capital in motion as it does on putting it to work in the first place.” _The information provided in this article is for general informational and educational purposes only. It is not intended as financial or professional advice. Readers should not rely solely on the content of this article and are encouraged to seek professional advice tailored to their specific circumstances. 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