Don't confuse the money they were given to manage (Cohens) and the money they were given to run the firm (VC funding). While the loss of the former probably led to the VCs declining another funding round, the two are much different.
I went with QC instead of QT back in 2016 because the lack of transparency with QT business model made me uneasy. QC makes money from wannabe quants regardless of level of competency - the business model of QT assumed there are at least a few good quants to stay with them. But why would anyone producing alpha want to stay on QT?