Tuesday, July 01, 2008

A Cringing Quarter for Venture Capitalists - Bits - Technology - New York Times Blog

Interesting times...

As I reported Saturday, venture capitalists experienced a very poor second quarter. The industry’s trade association said Tuesday that for the first time since 1978, not a single venture-backed company went public in the quarter.

From the perspective of the venture capital industry, it turns out that the news was worse than I reported.

The other bad news was the industry’s disclosure early Monday morning that acquisitions of venture-backed companies are down sharply too. In the second quarter, 50 merger and acquisition deals of venture-backed companies were completed. That’s down from 70 in the first quarter.

A Cringing Quarter for Venture Capitalists - Bits - Technology - New York Times Blog

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