Despite concerns over how Facebook Inc.’s disappointing initial public offering may hurt start-up funding, venture capitalists are continuing to vote with their checkbooks.
On Wednesday, venture-capital firms Andreessen Horowitz and Insight Venture Partners invested $150 million for a 10 percent stake sports-apparel website Fanatics.com at a $1.5 billion valuation. That’s more than four times what it was worth a year ago.
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