Tuesday, January 20, 2009

sfgate: U.S. venture capital fundraising plummets

"Fundraising by U.S. venture capitalists plummeted last quarter, according to numbers released Monday, marking lows that haven't been seen since the industry started to recover from the dot-com bust."

"For the fourth quarter of 2008, 43 firms raised $3.4 billion - down from $8.4 billion in the previous quarter and $11.7 billion in the fourth quarter of 2007. For the full year of 2008, fundraising was down 21 percent.

The number of firms raising money also dropped by more than 30 percent between the third and fourth quarters of last year and by nearly half compared with the fourth quarter of 2007.

The slowdown is expected to continue well into this year."

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