Study: US venture capital spending plummeted in Q1
By Chris Kanaracus, IDG | 2009-04-22
The recession has taken a staggering toll on US venture capital investments, resulting in a nearly 50 percent drop overall during the past three months, according to a new industry report released recently.
Venture capitalists pushed US$3 billion into 549 deals during the first quarter, compared to $5.7 billion and 866 deals in the last quarter of 2008, according to the MoneyTree Report released by PricewaterhouseCoopers and the National Venture Capital Association, which is based on data from Thomson Reuters.
All major industry sectors suffered double-digit drops and on balance, with software firms garnering the largest share of new venture capital.
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