Panel on why firms are raising so many funds, and so many are outside of the US? Stephen Ziff from Coller Capital moderated the panel.

James Mawson: It gives me great pleasure to introduce our first panel for today.  Stephen Ziff from Coller Capital will moderate the panel.  I shall ask him to introduce his panellists but please come to the stage, Stephen.  Coller Capital probably needs very little mention to you but they really are a powerhouse firm, perhaps one of the world’s largest venture investors themselves, they go in via secondaries. I shall leave Stephen to talk about his panel which will be…