A VC Calls It Quits

"Howard Anderson, co-founder of Boston VC firms Battery Ventures and YankeeTek Ventures, is quitting the VC business. In the June issue of MIT Technology Review, he has published an apologia of sorts explaining his decision. In characteristically left-brain fashion, he lists five reasons why he believes the VC business is broken for good. The most interesting one is number four: 'These changes in venture funding are structural, not cyclical.' In other words, VC is not just at the bottom of a bad business cycle that will inevitably turn up. The bottom is the new normal."

[DealFlow]