OpenView Venture Partners, a Boston-based venture capital firm that has backed enterprise software firms such as Calendly and Expensify, has laid off most of its staff and will not make new investments, leaders told staff on Tuesday, according to a person with knowledge of the situation.
The sudden fall of the firm, which employed at least 74 people, according to its website, could be a sign of rising pressure on VC firms to generate returns in an era of higher interest rates and fewer sources of new capital.
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