<ul><li>Smaller VC funds from 2017-2020 have seen a significant decline in their returns over the past 24 months.</li><li>Many hot deals and unicorn rounds that happened between 2018-2021 no longer have the same valuation, resulting in mark-downs and write-offs.</li><li>New emerging VC funds from 2021-2023 are still negative overall, and one reason could be the lack of mark-ups and valuation increases on their investments.</li><li>Most smaller VC funds are not yet benefiting from their AI investments.</li></ul>

Carta: Smaller VC Fund Returns Have Fallen -30% or More. Will AI Boost Them Back?

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