April 20, 2010

Venture capitalist investment falls off in first quarter

Venture capitalists in the first quarter were less enthusiastic, both nationally and in Maryland, as total investments fell from the fourth quarter. In Maryland, 14 VC investment deals totaled $61.0 million in the first quarter, down from 21 deals totaling $105.3 million in the fourth quarter, according to new data from the latest MoneyTree Survey from PricewaterhouseCoopers, National Venture Capital Association and Thomson Reuters. Nationally, VC investment fell 8.9 percent to $4.73 billion from $5.18 billion. Still, total investment for the quarter was up both nationally and in Maryland from the first quarter of 2009. In the U.S., first-quarter investments last year totaled $3.4 billion; in Maryland, they totaled $43.3 million.

"Despite a great deal of economic uncertainty in the first quarter, the venture capital industry moved forward with a more active start than it did in 2009, which bodes well for the remainder of the year," Mark Heesen, president of the VC association, said in a statement. SOURCE: Gazette

No comments: