VC investments sink to lowest levels in 12 years
The weak economy of 2009 took its toll on venture capitalists, though the year ended with hints of a recovery in store, says a new MoneyTree report.
VCs spent only $17.7 billion on 2,795 different deals last year, the lowest dollar amount and number of investments since 1997, according to the report released Friday by PricewaterhouseCoopers and the National Venture Capital Association (NVCA), based on data from Thomson Reuters.
The numbers amounted to a 37 percent drop in dollars and a 30 percent fall in the volume of deals from 2008, marking the second consecutive year of declines. … Read more