WSJ: More Mutual Funds Are Pumping Money Into Small Firms

By SIMON CONSTABLE
It used to be that almost all mutual funds invested their capital only in securities of public companies. But that’s been changing—which could be good news for some small businesses that have big plans.
Thirty-six percent of firms going public in 2016 received mutual-fund financing before their IPO, according to a recent research paper by Michelle Lowry and Sungjoung Kwon, both at LeBow College of Business, Drexel University, and Yiming Qian at the University of Iowa.
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