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CRV , a more than 50 - year - old speculation firm , is return to investors $ 275 million from its $ 500 million Select fund , which backs late - point rounds of existing portfolio companies , theNew York Times reported .
The business firm is one of the first Silicon Valley fit out to return attached capital to investor . ( Wereported yesterdaythat India ’s big speculation investor , Peak XV , is flog the sizing of a handful of monetary resource . )
CRV partner said it realized that investing in follow - on round of many of its companies would lower its overall returns .
The firm raised the Select fund along with a $ 1 billion stock for early - stage startups in 2022 . CRV said its next early - stage store will be smaller and it does n’t contrive to raise another Select investment company .
This is n’t the first time CRV has reduced its fund size of it . In 2002 , after the dot - com bubble burst , it prune a store from $ 1.2 billion to $ 450 million . Other firms toslash their fund sizesin that epoch include Kleiner Perkins , Accel , and Redpoint Ventures .
