Wednesday, May 23, 2007

VC's on the Rise

The prospects for the northern California economy look very promising with venture capital on the rise. Could the number break $30 Billion this year? Remember almost 1/2 of all U.S. venture capital goes through California......

VC investments reach 5-year high nationwide

"Venture capitalists invested $7.1 billion in the United States during the first three months of the year, lifting the industry to its biggest quarter in more than five years, according to figures to be released today.

The amount spread across 778 deals represented the most venture capital to pour into start-ups in a quarter since the final three months of 2001, based on data compiled by PricewaterhouseCoopers, Thomson Financial and the National Venture Capital Association.

The first-quarter flurry represented an 11 percent increase from the $6.3 billion invested by venture capitalists at the same time last year.

The fast start indicates "this will be a breakout year for U.S. venture capital," said Darrell Pinto, Thomson Financial's director of global private equity performance. "

By Michael Lied - the Associated Press

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