It costs a lot more to invest in a late stage startup than an early stage one.
In the current economic climate they probably can't afford (or just don't want to risk) to invest large sums, while on the contrary can "take advantage" of early stage startups which will struggle more to get funding.
In the current economic climate they probably can't afford (or just don't want to risk) to invest large sums, while on the contrary can "take advantage" of early stage startups which will struggle more to get funding.