How Deimos’s Demise Highlights What Can Go Wrong With Start-Ups

When gold-plated backers become a hindrance, not a help.

Illustration by Renaud Vigor.

When Deimos Asset Management announced in September that it would close its doors, co-founder Loren Katzovitz blamed the small hedge fund firm’s shutdown on a “challenging” fundraising environment coupled with the high cost of doing business.

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