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Hopes Dim for Success of 2021-Vintage Venture Funds

The Wall Street Journal

December 22, 2025

Venture-capital funds that began investing during the 2021 boom have been in trouble for a while.

- BY YULIYA CHERNOVA

Now they risk becoming a permanent disappointment because of poor returns.“It’s safe to say it is going to be an underperforming vintage,” said Theresa Sorrentino Hajer, head of U.S. venture-capital research and partner at Cambridge Associates, a

This story is from the December 22, 2025 edition of The Wall Street Journal.

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