In an era when venture-capital firms are raising megafunds in the billions of dollars, one of the best-performing investors is resisting the temptation to go big. Benchmark Capital is sitting on one of the most profitable venture funds since the dot-com boom after scoring early investments in tech highfliers Uber Technologies Inc., Snap Inc. and WeWork Cos. That fund—around $550 million raised in 2011—has multiplied investors’ money roughly 25 times, before fees, according to a person familiar with the returns.

Source: Wall Street Journal August 21, 2018 19:30 UTC