New Fund Targets Stranded Unicorns

For every $1 billion-plus private company, there is another startup struggling to raise funds in a venture-capital world obsessed with growth.

Billions are being poured into the hottest startups, pushing private valuations to new heights and the number of unicorns world-wide to more than 800. But as VC firms search for the next Beyond Meat Inc., they are quick to abandon companies they believe will never become darlings of private and public investors.