CRV, a Silicon Valley-based venture capital firm, has announced plans to return $275 million to its investors. This decision comes as the market for mature start-ups has soured, prompting CRV to prioritize returns over fees. The $275 million is part of CRV's $500 million Select fund, which was intended to support more mature start-ups. This move is seen as a response to the challenging market conditions and reflects a broader trend among venture capital firms to downsize or return undeployed cash to limited partners. Other firms, such as Founders Fund, have made similar moves, with Founders Fund returning $900 million of its $1.8 billion Fund VIII in early 2023. CRV's decision, reported by the New York Times, is being viewed as a prudent step in the current market environment, where late-stage valuations are struggling, and many venture capitalists are reconsidering their strategies.