Sequoia and Andreessen get hosed on their 2021 Instacart investment, after a 75% plunge in valuation

Sequoia Capital and Andreessen Horowitz invested $50 million each in Instacart at the tech market's peak in 2021 .

That's more than 75% below where they invested in early 2021 .

The delivery economy was booming because of Covid shutdowns and demand for goods was booming.

Even with the changing market conditions, the company has continued to grow.

Even if Instacart 's IPO can't lift its valuation anywhere near its Covid -era peak, it's likely that Sequoia, Andreessen and other venture firms are hoping it helps lift public investor enthusiasm for new tech stocks. Arm, which was taken private by SoftBank in 2016 , reentered the public market on Thursday and jumped 25% in its debut. WATCH: Arm is IPOing profitably.