The key is awareness with large institutional investors which is more about building trust. The banks have a monopoly in terms of trust with sovereign wealth fu

The key is awareness with large institutional investors which is more about building trust. The banks have a monopoly in terms of trust with sovereign wealth funds or mutual fund managers... since they do multiple deals over a long period of time.. they are incentivized not to screw them on any single deal. Increasingly though these entities are more interested in direct connections with management teams, thus cutting out middle men like Goldman Sachs. This dynamic is what drives entities like Goldman Sachs to invest in late stage rounds so as to build a deep understanding of the business prior to IPO. It’s so great that more companies are going “straight to the money”.