The private market is as strong as ever and the public markets are dead for start-ups and unicorns, venture capital investor Alan Patricof said Wednesday.
"The IPO market is no longer the real alternative for exits for … all our companies," the founder of Greycroft said in an interview with CNBC's "Closing Bell."
In fact, there have only been a "handful" of initial public offerings this year, Patricof pointed out. Instead, he thinks acquisitions are the best exit strategy for companies.
"I, frankly, am concerned for the unicorns that are out there today to really find an exit, because their only alternative is probably the public markets and the public markets are dead," Patricof added.