PRINT THIS PAGE Global VC Atlas Ventures slashes size of fund by 12 per cent11/06/2002. Source: AltAssets. 
 Atlas Ventures, the global venture capital player, has become the latest in a line of venture players to slash the size of its fund, more evidence of strain in the venture capital arena.
The firm will be cutting the size of its E1bn fund, Atlas Venture Fund VI, by around 12 per cent, according to eFinancial News.
It joins a growing list of high-profile firms handing cash back to investors as the noose tightens in the current market, including US firms Charles River Ventures and Mohr Davidow Ventures.
A few weeks back US firm Benchmark also announced it was cutting the size of its European fund by a third, from $750m to $500m.
Valuations have fallen significantly since the heady days of the technology boom and there is a significant overhang of capital already clogging up the deal flow pipes, estimated at around E100bn.
Copyright © 2002 AltAssets
|
