By Cromwell Schubarth

David Blumberg invested in San Jose-based Nutanix when it was “three founders and a business plan.”

Now it is expected to be the first tech IPO from the Bay Area in more than four months and thought to be worth an estimated $2 billion to $3 billion.

But Nutanix, like many other tech IPO prospects, saw its chances dim with the back-to-back tech stock corrections in August and January. With markets coming back a bit, the company updated its prospectus last month.

Blumberg talked to me last week about why he likes Nutanix and isn’t particularly bothered by the recalibration of startup funding and valuations that has been going on for the past two quarters. The following Q&A, edited for clarity and length, is from that conversation.

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