Business Services Industry
Big Chill Continues for Venture Capital Market in Walnut Creek, Calif., Area.
Knight Ridder/Tribune Business News, May, 2002
By George Avalos, Contra Costa Times, Walnut Creek, Calif. Knight Ridder/Tribune Business News
May 12--The dreary decline of the venture capital market continued during the first three months of this year, but some analysts believe the implosion may soon reverse itself.
The most recent MoneyTree Survey found that venture capitalists pumped $2.12 billion into privately held Bay Area companies in the first quarter of 2002. This financing level follows a pattern of steadily declining venture funding in the Bay Area that began in mid-2000, according to data in the survey put together by PricewaterhouseCoopers, Venture Economics and the National Venture Capital Association.
The venture financing levels during the first quarter are down 25...
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