IP: Venture $s : InfoBeat News - Morning Coffee Edition - 7/31/2001

[David Farber <dave () farber net>]

> SAN FRANCISCO (AP) - Continuing to spurn once-irresistible Internet
> entrepreneurs, venture capitalists invested $10.6 billion in
> start-ups during the second quarter, a 61 percent drop from the same
> time last year, according to industry statistics released Monday.
> The investment community's deepening disillusionment with the New
> Economy accounted for the dramatic turnaround from last year's
> second quarter when venture capitalists invested $27.2 billion,
> according to the research firm Venture Economics and the National
> Venture Capital Association, an industry trade group.  Venture
> capitalists' flight from the Internet deflated Northern California's
> Silicon Valley - ground zero for the New Economy. Venture capital
> investment in Northern California plummeted 66 percent from $9.28
> billion last year to $3.14 billion in this year's second quarter.
>
>
>
> Full article at: http://www.infobeat.com/fullArticle?article=410615479



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