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Billion-Dollar Gains Reach 10 Venture Firms on IPO Boom

Venture capitalists spent 2013 doing something they haven’t been able to for a while: reaping enormous returns.

At least 10 U.S. venture firms generated more than $1 billion each in returns from initial public offerings and acquisitions this year, according to filings and data compiled by Bloomberg. Consumer Internet, business software and e-commerce companies contributed to the gains.