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Venture firm CRV returns $275 million citing overvaluation of mature startups
CRV, a more than 50-year-old venture firm, is returning to investors $275 million from its $500 million Select fund, which backs later-stage rounds of
(We reported yesterday that India’s largest venture investor Peak XV had slashed its $2.85 billion fund by $465 million.) At current prices, these startups would need to eventually be worth about $10 billion, and there aren’t many existing companies that could reach that size, said CRV partner Saar Gur. Other firms to slash their fund sizes in that era included Kleiner Perkins, Accel, and Redpoint Ventures.
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