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Limited Partners Doubt Venture Funds’ Startup Valuations

Member and International Practice Co-chair Larry Naughton was quoted in a Wall Street Journal article highlighting that the increasing skepticism among limited partners regarding startup valuations is causing a slowdown in the venture fundraising market. Once all the data is collected, 2023 is expected to be the worst year for global venture fundraising since 2015, as concerns about valuation accuracy, heightened investor scrutiny, and declining venture-fund returns are leading to prolonged fundraising timelines and a challenging environment for venture managers.

Larry said, “I see [limited partners] push the GPs hard on the numbers,” emphasizing how this extends fundraising timelines.


Wall Street Journal