> why do they need to IPO if they raised so much money Venture capital funds are for a limited time - e.g. five years. At the end of the time, the fund is liqu

> why do they need to IPO if they raised so much money Venture capital funds are for a limited time - e.g. five years. At the end of the time, the fund is liquidated - the companies are either sold, or closed down. They can sell to another round of VC funding, sell to a competitor (who wants to "acquihire" the team), or by IPO.