“The volatility will remain for a bit and elongate the timeline for an IPO,” said Jared Carmel, managing partner with Manhattan Venture Partners, a firm that researches and invests in private companies. “But it’s also our belief that this won’t last forever. The market is just taking a breather,” added Carmel, who said his company currently has stakes in Lyft, Palantir, Airbnb and subscription clothing firm Rent the Runway. Carmel said it’s important for investors to look closely at the fundamentals and valuations of any private companies that consider an IPO. He noted his firm decided to invest in Lyft, not Uber,because the latter was too expensive and had some high profile problems during the tenure of former CEO Travis Kalanick. “Uber is priced to perfection and it’s not a perfect company,” Carmel said, although he added that Uber has taken promising steps since Dara Khosrowshahi took over as CEO. He cited the company’s decision to scale back in some international markets and invest more in its UberEats food delivery service.