Funding spree set for ‘healthy, painful’ reset | Business


An email last week sent by Mirai Capital, a broker for secondary trading in “late-stage”, pre-flotation private companies, provides a decent snapshot of the mood in the venture capital market. Its pick of notable sellers, many of them selling at a discount to their last funding round, ran to nineteen businesses; its pick of buyers looking for sellers named only three start-ups.

Meanwhile, Sequoia, one of Silicon Valley’s oldest and most successful venture capital firms, has laid out a warning to its portfolio companies that the combination of turbulent public markets (particularly for technology stocks), rising interest rates and inflation and the consequences of Russia’s war in Ukraine add up to a “crucible moment”.

It advised the entrepreneurs it backs that they should not