in 2004 patricof stepped back from the daily duties of apax and found greycroft partners.he firm with about a billion dollars under management. thank you so much for joining us. you are the perfect person to talk about what the heck is going on. this week technology was so strong. a number of the so-called fanning stocks hit ca hitting ae highs. >> the private sector is as strong as i have seen it in all the years i have been in this business. the market -- are we seeing irrational exuberance or overheated market? i can't tell you. if you are young with a good team and look for expansion capital. tough a good concept money will not be your restricting element. there is a lot of money in the funds that want to invest. the ipo market opened up the last two months. the last four or five deals, up to 500% premiums. the companies get sold in the private market. maria: i gets makes it harder to compete because a lot of people are willing to fund these early companies. >> the reason i ran a billion instead of 41 billion, i went back to my roots, back to the future. i wanted to ma