Yale University’s endowment gained 1.8% for the fiscal year ending June 30. Photo: Tim Tai for The Wall Street JournalThe hangover from the bursting of the startup bubble is weighing on big U.S. university endowments, with write-downs in their growth and venture-capital investments driving a second straight year of weak returns. The Massachusetts Institute of Technology reported a loss of 2.9% and Duke University, a loss of 1% for the fiscal year ending June 30, while endowments at Yale and Stanford gained 1.8% and 4.4%, respectively. The median return for endowments and foundations of more than $1 billion was 5.6%, according to a preliminary estimate from Cambridge Associates.

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Persons: Tim Tai Organizations: Yale, Wall Street, Massachusetts Institute of Technology, Duke University, Stanford, Cambridge Associates