Beezer Clarkson, managing director at Sapphire Ventures. Photo courtesy of Sapphire Ventures.
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Next Year’s VC Funds May Be Hit Harder by Covid Recession, Says LP

Photo: Beezer Clarkson, managing director at Sapphire Ventures. Photo courtesy of Sapphire Ventures.

For the people who invest in venture capital funds, the impact of Covid-19 is like watching a “slow-motion plane crash,” Sapphire Ventures managing director Beezer Clarkson said in an interview with The Information. While VCs were still raising strongly in the first quarter, next year will be different. “In 2021, we will see more of an impact on fundraising,” she said.

Clarkson, whose firm is a limited partner in VC funds such as Union Square Ventures and Data Collective, says venture investors are looking at their companies and “thinking which of them are going to make it.” Limited partners will go through the same process with their funds, but later. 

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