mike1 (2)

ISSUE – Jan. 18 | Fidelity funds high on hot startups

They’re the hottest deals in the venture capital world — startups like Uber and Snapchat owner Snap Inc., whose values soar beyond $1 billion long before going public.

In recent years, there’s been increasing competition to get in on these investments, known as “unicorns,” especially among mutual fund companies looking to gain an edge on investment returns. And according to a paper cowritten by Harvard Business School professor Josh Lerner, Boston’s Fidelity Investments has been the most active fund company in unicorn deals. [ The Boston Globe ]