Village leader Matakin Bondien points to a young mangrove plant which has sprouted in a clearing where mangrove trees were felled in Pitas, Sabah, Malaysia, July 6, 2018. Picture taken July 6, 2018.from data outfit PitchBook and trade group National Venture Capital Association shows that U.S. investment firms that fund new companies did even fewer deals in the second quarter this year than in the already-sluggish first quarter.
A largely frozen market for initial public offerings is partly to blame. That has hobbled investors’ confidence in their ability to exit positions. Some issues with late-stage valuations have also caused big problems, including for Tiger Global, making others shier. Many investors who had favored mature startups have flocked to earlier-stage companies as an alternative, hoping they can hold those positions for longer – perhaps even until the IPO market kicks back into high gear.
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