VCs poured $29.9 billion into 2,648 deals last year, numbers not seen since…2001. Oops. About half of that went into tech, and the good news here is that Dow Jones assures us that those numbers are “nowhere near the nosebleed records set in 2000.”
Regional breakdown: California hoovered up almost half of the capital. Not surprisingly, most of that went to the Silicon Valley, which landed $9.9 billion. Boston was up in both capital invested and deal flow, while NYC saw deal flow increase slightly, while capital invested dropped 9%.
So what happens now? Last week we noted that VC funds in 2007 had reached 2000/2001 levels.had raised more money in 2007. Throughout last year, we were told that VCs/angel investment wasn’t being affected by the market’s gyrations. Now we’ll see what happens if markets falls over and stays down for a while.
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