- Fidelity marked down the values of its shares in Stripe, according to its monthly report.
- Over the last year, Fidelity’s mutual fund has cut the value of its late-stage startup investments.
- Instacart has also taken a valuation hit from the asset manager, while Reddit’s has rebounded.
Silicon Valley just can’t catch a break.
Over the last year, Fidelity’s monthly filings have painted a dire picture of just how poorly startups have been faring since an investing peak in 2021, which was marked by an onslaught of VC funding and sky-high valuations.
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