Provided by Dow Jones
By Eliot Brown Nearly a decade ago, venture-capital firm Sutter Hill Ventures made a small wager on an idea for a cloud computing services company, helping found and fund Snowflake Inc. The bet paid off: Last month, Sutter Hill distributed a profit of nearly $12 billion on the less than $190 million it ultimately invested, as it transferred its shares in the company to its investors and partners, marking one of the most profitable investments ever in venture capital. The venture sector has long been defined by big wins on disruptive tech companies, balanced by far more numerous losing bets. But in recent months, an unusually large number of venture investments have logged multibillion-dollar profits, setting many firms up for their greatest returns since the dot-com boom of the late 1990s.
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