VC Turns Down $1 Billion

from the good-or-bad? dept

Here’s an odd one. Crosspoint Ventures has decided not to take the $1 billion they raised for a new fund. This is very odd, and somewhat unprecedented. Of course, no one can agree as to whether or not it’s a good thing. The article has a lot of different quotes from people who disagree. My opinion is that it’s good that they’ve admitted they can’t deal with the fund right now, and have chosen not to take it — if it’s true that they really can’t handle it. However, at the same time, I think that if they’re serious about being venture capitalists, then part of their job is to figure out how to manage large sums of money. So, I’m a little confused as to what they’re doing if they think they can’t manage that sort of money, and why they raised it in the first place. What sort of venture capitalists are they if they can’t figure out a way to place that money?

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