Sevin Rosen Funds ends Fund X

Not sure what to make of the environment for VC money after news that Sevin Rosen Funds, a VC firm with large sums in telecom and wireless companies, said it is ending its "Fund X" and returning money to investors. The firm, which backs companies such as Wayport and MetroFi, told investors: "While good returns from any given firm's portfolio is certainly a possibility, the statistics have clearly shifted in an unfavorable direction. The venture environment has changed so that overall returns for the entire industry are way too low and even the upper-quartile returns have dropped to insufficient levels."

For more about Sevin Rosen Funds' end to Fund X:
- check out this article from Light Reading