Vetamer Capital, an investor in public and private tech companies started by a Lone Pine Capital veteran just three years ago with $350 million to invest, has shut down its public-equities hedge fund and returned capital to investors, the firm said in a recent letter to its investors.
The San Francisco-based firm is a notable addition to the small but growing number of tech investment firms drastically curtailing ambitions as they struggle after two years of reduced valuations and sparse public offerings. Last month, venture capital firm OpenView, which managed $2.4 billion, said it would halt investments in new startups.