In the first quarter of this year, venture capitalists made the fewest number of investments in startups in four years, reports Bloomberg. Overall funding in startups sank 12% from the previous quarter, when funding had already begun to slow down. Over half the $17.7 billion invested in private companies in the first quarter of 2016 went to established private companies like Lyft and Snapchat, which raised $1 billion and $175 million during the quarter, respectively. The investment in more established companies reflect investor concern over the skyrocketing valuations of unproven startups.
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