Accel, Lightspeed, Sequoia, a16z, and other firms are increasingly buying public tech stocks, capitalizing on low prices, as the private startup market stalls (Berber Jin/Wall Street Journal)

Berber Jin / Wall Street Journal:
Sources: Sequoia apologized to its fund investors for the $150M it lost on FTX and told them it would improve its due diligence process on future investments  —  Venture-capital firm tells fund investors that it will improve due diligence on future investments after $150 million loss on crypto exchange

Accel:
Valuation of public cloud companies in the US, Europe, and Israel fell from $2.8T to $1.2T in the past year; private market funding fell 42% YoY in Q3 2022  —  This article was co-authored with my colleagues Richard Kotite and Will Sheldon.  The Accel 2022 Euroscape was unveiled earlier today …

Berber Jin / Wall Street Journal:
Sources: a16z’s flagship crypto fund lost ~40% of its value in H1 2022, above the 10%-20% losses at rival funds; a16z has dramatically slowed crypto investments  —  Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’  —  Crypto Crashed, Coinbase’s Stock Followed: What Went Wrong

Kit Rees / Bloomberg:
The subpar performance of FAANG stocks, which account for more than 10% of the S&P 500 weighting, will be a big drag on the market in the coming years  —  For some investors, this year’s rout in high-flying technology stocks is more than a bear market: It’s the end of an era for a handful …

Natasha Mascarenhas / TechCrunch:
Harmonic, which runs a startup search query tool that is used by investors like a16z and Accel, raised a $23M Series A led by Sozo Ventures  —  Siri, show me fintech companies, founded in the last two years, that haven’t raised over the past year but have grown headcount by 100% in the same time frame …

Kate Clark / The Information:
SBF quietly invested $500M+ in Paradigm, Altimeter, and other VCs, including, sources say a $200M commitment to Sequoia, and $300M to K5 per PitchBook  —  FTX founder Sam Bankman-Fried was not only a tireless fundraiser from venture capital firms including Paradigm and Sequoia Capital …