Official announcement by CRV or financial reports

CRV to Return $275 Million to Investors Amid Market Conditions: New York Times

Oct 2, 2024, 04:00 PM

Venture capital firm CRV, based in Silicon Valley, plans to return $275 million from its $500 million Select fund to investors. The decision comes amid worsening market conditions and high startup valuations relative to their potential payoff, as reported by the New York Times. This move is considered rare, as few VC firms have taken similar actions since the dotcom crash. CRV will continue to invest from its core $1 billion early-stage fund. The market for mature startups has soured, leading to fewer opportunities for profitable investments at growth stages.