Unicorns Face Reality Check As VC Funding Slips

By Tom Zanki (April 14, 2016, 8:28 PM EDT) -- As venture capital gets harder to come by, first-quarter funding data shows fewer companies are becoming so-called unicorns — private companies worth at least $1 billion — while existing unicorns are confronting pickier investors demanding better terms, the latest sign that skeptical public markets are shaking up the private space.

Investors committed $25.5 billion to venture-backed companies across 1,829 deals globally in the first quarter, marking the second straight quarterly decline in funding activity, according to a report by venture capital database CB Insights and accounting firm KPMG International released Wednesday. That compares with a recent peak of $39 billion raised...

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