Baillie Gifford, one of the world’s top tech investors, has warned fast-growing private companies face a reckoning next summer.
And the ￡228bn Edinburgh-based asset manager says it is “not ready to give up on China”.
Peter Singlehurst, its head of private companies, told a conference on Wednesday that previous market cycles showed there was typically about 18 months between peak euphoria in the market and the peak frequency of down rounds.
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