Venture-Backed IPO Market Languished :: AO

"Only ten venture-backed companies raised $540.8 million through Initial Public Offerings (IPOs) in the first quarter of 2006, according to the Exit Poll report by Thomson Venture Economics and the National Venture Capital Association. While the first quarter is typically the lowest of the year for IPOs, offer amounts were also down considerably, as the first quarter�s average offer amount of $54.1 million is the lowest average since the third quarter of 2002, when the average offer amount was $30.0 million. Conversely, the venture-backed M&A market continued to perform strongly with 95 companies being acquired with a disclosed value of $4.8 billion, the highest total disclosed value in five years. "