Scores of newly public companies worth less than they raised from VCs

The IPO and SPAC boom of recent years was a once-in-a-decade opportunity for investors in tech startups to cash out. Now, public investors who bought in are paying the price.

Here's a stark example of how the sell-off has played out: More than 140 VC-backed companies that went public in the US since 2020 have market capitalizations that are less than the amount of venture funding they raised, according to PitchBook data. READ MORE