Venture-capital investment dropped 33 percent in the fourth quarter of 2008, hammered by a recession that drove software deals to their lowest levels in a decade and cut access to capital for alternative energy firms.
Total investment in startup companies fell to $5.4 billion, the lowest total since early 2005, the National Venture Capital Association and PricewaterhouseCoopers LLP said in a study released today. Investments for the full year fell 8 percent, the first drop since 2003.
Read the full article on Bloomberg here....
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