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VC investments rise to six-year high - Yahoo! News
VC investments rise to six-year high - Yahoo! News
SAN FRANCISCO - Venture capital investments in U.S. startups climbed to a six-year high of $29.4 billion in 2007, raising hope that ample money will still be available to back promising new ideas even if the staggering economy falls into a recession.
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The amount of venture capital spread across 3,813 deals represents the industry's busiest year since $40.6 billion went into nearly 4,500 U.S. startups in 2001, according to data scheduled for release Saturday by Thomson Financial, PricewaterhouseCoopers and the National Venture Capital Association.
The $29.4 billion invested last year marked an 11 percent increase from $26.6 billion in 2006.
In 2001, venture capitalists were actually curtailing their investments after the dot-com economy pushed the U.S. economy into its last recession.
Although many experts believe another recession is imminent, venture capitalists say there is little reason to believe their investment pace will slacken this year.
In a show of confidence, venture capitalists raised $34.7 billion for future investments during 2007, a 9 percent increase from the previous year.
The industry's optimism stems from a belief that many of today's hottest concepts either a
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