San Francisco, January 3: Indian-origin entrepreneur Jai Malik-led early-stage venture capital firm Countdown Capital will reportedly shut down by March-end amid the funding winter. The company is slated to complete pending investments, return capital, cancel all uncalled commitments and permanently cease operation apart from current asset management, TechCrunch reported.

Its founder and solo general partner Malik decided to close the fund as 슬롯사이트œfunding industrial startups is not inefficient enough to justify our existence슬롯사이트� and 슬롯사이트œlarger, multi-stage venture firms are best positioned to generate strong returns on the most valuable industrial startups", the report said, citing his annual letter.슬롯 머신 사이트 추천SpaceX Illegally Fired Workers Criticising CEO Elon Musk, US Labour Agency 'NLRB' Accuses and Files Complaint Against.

슬롯사이트œDespite our performance to date, I슬롯사이트™ve concluded that new investments are unlikely to yield strong returns,슬롯사이트� Malik said in the letter, adding, "As a result, I no longer believe that Countdown슬롯사이트™s existence is justified, for both our LPs and Countdown management.슬롯사이트� Malik did not comment on the report.

The firm has backed aerospace and defence sector startups like satellite bus developer K2 Space, machining startup Hadrian, and cybersecurity company Galvanick. Around 12 investments are listed on the firm슬롯사이트™s website.슬롯 머신 사이트 추천Indian IT Industry Veteran CP Gurnani Joins upGrad슬롯사이트™s Board of Directors, Aims for Global Edtech Expansion.

Countdown슬롯사이트™s second $15 million fund was announced in September 2022. Its first fund was $3 million. 슬롯사이트œTo be clear, we슬롯사이트™re not bearish on venture capital or the future success of venture-scale hard tech companies at large. We슬롯사이트™re bearish on the ability of small, early-stage funds 슬롯사이트� particularly sectionally focused ones 슬롯사이트� to continue exploiting these opportunities profitably,슬롯사이트� Malik wrote.

(The above story first appeared on LatestLY on Jan 04, 2024 12:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).