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Venture Capital

NEA Plans to Sell $1 Billion in Startup Stakes

Venture capital firm New Enterprise Associates is planning to sell off its stakes in about 20 startups, the Wall Street Journal reports. Roughly $1 billion worth of investments would be sold to a new firm that NEA itself is creating. The move is meant to cash out some of the firm’s earlier limited partner investors, amid the wider slowdown in initial public offerings. It’s becoming more common for private tech investors to sell off their shares before an IPO or acquisition, and NEA’s adoption of a more formal and large-scale method of selling would be the latest sign of maturation in the private markets.

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