Alan Patricof, founder and managing director of New York venture capital firm Greycroft Partners LLC and an éminence gris of the U.S. financial community, sent us a statement today urging restraint in how bloggers and members of the media characterize the "contagion" roiling global markets. Patricof, who also formed the private equity firm that would become buyout giant Apax Partners, specifically addresses the flurry of reports this week that Silicon Valley venture firm Sequoia Capital Partners had summoned its portfolio company executives to warn of the impact of the ongoing financial crisis. While advising emerging companies to closely monitor costs and to be realistic in their near-term growth forecasts, he also says this is "not a time to panic, cut off all investment in the future, and burrow into a dark hole." -- Alain...
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