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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