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Beware the new ‘unicorns’, warns Goldman Sachs

Investors have lost money betting on venture capital-backed IPOs in the past two years, bank’s analysts observe

Ride-sharing and crowdsourced taxi service Lyft is expected to IPO this year
Ride-sharing and crowdsourced taxi service Lyft is expected to IPO this year Photo: Getty Images

The venture-capital industry is where public market investors can learn about hot new trends and read up on companies that will offer shares to the public in the near future.

And these days, VC is all about “unicorn” companies — privately held startups with values north of $1bn.

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