VSP selling stakes in closed auction

i read that VSP is auctioning off its portolio companies in what sounds like a totally closed auction between its partners. http://hosting.mansellgroup.net/enablemail/thomsonnewletter/hostedwires/news letters/aug5.htm

it seems unfair to its LPs to not market this more broadly than to two partners and given the amount of scandal there it’s surprising the advisory board wouldnt insist on a more competitive process.

i wish there was an open exchange where all private investments and companies could be listed to democratize what remains a total insider’s game. i’m sure a lot of us would have liked the chance to bid on excite.com for the reported $9 million it sold for. (the site was supposedly profitable within 30 days as it was producing $10m a quarter.) i hope that some scrappy entrepreneur will read this and figure out a way to make that happen. let me know if you do.

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