A specialist trader is reflected on his screen on the floor of the New York Stock Exchange August 25, 2015. REUTERS/Brendan McDermid
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In June it sealed a $1.5 billion deal that propelled its valuation to $25.5 billion, the third-largest among venture capital-backed companies worldwide.As of late last week, 58 percent of the 38 tech and biotechnology IPOs so far this year were underwater, according to data provided by market-intelligence firm Ipreo and analyzed by Reuters.At the end of last year, about 26 percent of late-stage Silicon Valley venture deals came with that protection, but today, it's about 40 percent, Kramer said.The fund, which as of June 30 held 12.5 percent of its assets in data-analysis company Palantir and 7.7 percent in storage company Dropbox, has dropped 6 percent since Aug. 20 .Some companies said they have noticed worry among investors. Apttus raised the cash it wanted, but other companies got the brush-off.
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