Maverick Capital wasn't immune to the private market turmoil that has tanked start-ups and crushed venture capital returns.
Like many private investors, Maverick has marked down some of its investments internally as higher interest rates have put pressure on money-losing start-ups.
Snapdocs, according to Maverick, should no longer be considered a unicorn, valuing the online mortgage processing company at $628 million.
Maverick, which runs a $1.4 billion venture and growth fund, is bullish on a few of its companies, though — even raising their valuations despite the overall market turbulence.
Brazilian digital rental marketplace company QuintoAndar is worth 20% more now than when Maverick invested at the end of 2021.
Persons:
Lee Ainslie, Maverick, —
Organizations:
Maverick, Cub, Business