Venture-capital funds and their investors don’t always agree on how to tally up the performance of venture portfolios, and estimating the value of a portfolio has become much more complicated this year. Since private company stock is illiquid there is no single way to estimate its value. And views differ on how to interpret the impact of the market gyrations and recession that accompanied the coronavirus pandemic.

Source: Wall Street Journal July 20, 2020 09:33 UTC