How the titans of tech investing are staying warm over the VC winter
Venture capital’s bruised whales are rethinking their strategies
Venture capitalists are not known for humility. But many have been striking a humbler tone of late. In a recent letter to investors Tiger Global, a hedge fund and venture-capital (VC) investor, reportedly admitted that it had “underestimated” inflation and “overestimated” the boost from the covid-19 pandemic to the tech startups in its portfolio. In November Sequoia, a Silicon Valley VC blue blood, apologised to clients after the spectacular blow-up of FTX, a now defunct crypto-trading platform that it had backed. In January Jeffrey Pichet Jaensubhakij, chief investment officer of GIC, one of Singapore’s sovereign-wealth funds, said he was “thinking much more soberly” about startup investing.
This article appeared in the Business section of the print edition under the headline “The big squeeze”
Business March 4th 2023
- How the titans of tech investing are staying warm over the VC winter
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- Foreign investors are being snagged by India’s tax net
- Artificial intelligence is reaching behind newspaper paywalls
- The uses and abuses of hype
- Lessons from Novo Nordisk on the stampede for obesity drugs
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