News Pick – Mutual Funds Sour on Startup Investments – WSJ

blog_images_nas
March 3, 2015 – “Fidelity, BlackRock and other giants cut value of their stakes at faster pace, make fewer new investments… These are ominous signs for Silicon Valley, where a flood of money into young companies pushed valuations skyward, and subsidized hiring sprees and advertising binges at scores of companies… Despite the markdowns, some tech executives see a silver lining. Mr. Richards, the venture capitalist at GGV, said lower valuations by mutual funds are helping him convince entrepreneurs to scale back their expectations…. “Here is some tangible evidence that the market has turned,” he said.” Read Full Story at WSJ