Interesting.

Hedge funds have a habit of hyping things and I would suspect that by the time they're telling everyone about their investments they're already gearing up for a gradual exit.

In my experience, large interests tend to already be in the market, long before they announce it. I concede that they almost certainly did raise that money, but whether it's going to flood the market now, or simply allocate their existing holdings to their new investors is unknown.

Also, I believe you meant to say Chris Dixon and not Chris Dunn.