MATIC: $450m at $20bn FDV in '22, now $2bn (-90%)
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7 deals that incinerated $1 billion of LP money:
ZRO: $120m at $3bn FDV in '22, now $2bn (-33%)
TIA: $100m at $3bn FDV in '24, now $1.6bn (-45%)
ZK: $200m at $2.4bn FDV in '22, now $1bn (-60%)
SCR: $50m at $1.8bn FDV in '23, now $250m (-75%)
W: $225m at $2.5bn FDV in '23, now $650m (-75%)
STRK: $100m at $8bn FDV in '22, now $1bn (-90%)
MATIC: $450m at $20bn FDV in '22, now $2bn (-90%)
Hyperliquid
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