Fund performance dropped 40% in 2023 amid top deal focus, Turner Novak notes

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Parshwa Turakhiya

13.07.2026

Fund performance dropped 40% in 2023 amid top deal focus, Turner Novak notes — Fund claims top deal focus caused loss

Turner Novak draws attention to a new narrative circulating in the investment world: a fund attributing a 40% loss in 2023 to its exclusive focus on the top 1% of deals.

The comment highlights the challenges fund managers face when narrowing their investment scope in difficult market conditions.

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Earlier this year, Novak commented on Anthropic’s position as the most sought-after startup for secondary share demand in Q2 2026. He also reported on a founder narrowly avoiding buying back a company sold to WeWork before the COVID pandemic. His recent post continues his coverage of market challenges and fund management decisions.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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