VCs do not liquidate immediately at the IPO or even upon lock-up expiration. But I would agree that this downward pressure is not VC-driven.
Re:Tableau stock down almost 50%
by headgasket on Friday February 05, 2016 @12:35PM
(#11043025)
Did you think that as soon as a company goes public, VCs get to sell all their stocks?
Tesla and LinkedIn had their IPOs 5-6 years ago, they aren't being held by VC funds. Tableau's major holders also don't include any VC funds:
http://investors.morningstar.com/ownership/shareholders-majo...
Typically VCs have to sell their shares 6-ish months after there's a liquidity event and return the proceeds to their LPs.
Or maybe, this is a crazy idea, some VCs have diversified portfolios that include public stocks.
You're not a VC if your money is in publicly-traded firms.