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Venture capitalists see promise after a tight year for US startups

But some investors warn more money will not necessarily save the most troubled startups

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RARING TO GO PUBLIC SOON: Peter Hamby, head of news at Snapchat, recording a snap at Hillary Clinton's election campaign rally in Cleveland in October. Venture capitalists are amassing huge new war chests as Snapchat's parent Snap Inc and other high-fliers prepare to go public next year. Other big names, such as Spotify, are also poised to hold IPOs as soon as 2017.

INVESTORS who once poured money into America's startups with abandon began to tighten their belts this year. The amount of money that flowed into US startups fell in 2016 for the first time in four years as the number of deals struck tumbled to their lowest levels since 2011.

But the

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