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Fortune
Fortune
Lucy Brewster

VCs aren’t convinced JPMorgan’s acquisition of First Republic stems the crisis

First Republic Environment Term Sheet
(Credit: Fortune)

So far, 2023 has been a record-breaking year for venture capital—but not in a good way.

Startup funding has seen a record slowdown this year, quarter, and now, according to new research, month. And the lag has been taking a toll on VC firms’ performance. 

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