PB: Did VC fly too close to the sun?

PITCHBOOK writes:

A cloudy end to VC’s day in the sun

Financial markets have sustained a series of gut punches over the last two quarters. With falling growth stocks, a recent wave of layoffs and central banks scrambling to tame inflation, the tailwinds benefiting venture capital funds over the prior two years appear to have reversed. 

As a consequence, fears of recession and anecdotes of dealmaking troubles have VC fund LPs wondering what will come of their outsize paper returns.

Our latest analyst note ...