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GE Equity Drops Out
In another sign of tough venture capital times, General Electric has announced that it's terminating further investments by its VC arm, GE Equity.
According to a GE representative, the unit will continue to manage its current portfolio, presumably with an eye to eventual exit, but will no longer particpate in investment rounds. Some unknown number of the unit's 135-person staff will also be pink-slipped. GE's third-quarter report revealed that the unit had generated losses of $167 million for that period.
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