Something Ventured

The beleaguered national and New England venture capital industries have apparently stopped the bleeding. The news yesterday from PricewaterhouseCoopers’ MoneyTree quarterly venture capital report was good, not great, but hey, we’ll take it.  Nationally VC investing increased for the first time in 18 months with the total amount invested in Q3 reaching just over $4.8 billion. Here on our home turf in New England, Q3 saw a small uptick as well with investments of $558,829. This represents the second consecutive quarter in which we’ve witnessed an increase over the prior quarter.

iChart

Biotech and clean tech led the way, according to published reports in the venture trades, the Boston Globe, TechCrunch and other media  outlets. Internet investments (remember the Internet?) saw a substantial increase – 42 percent during the quarter.

For what it’s worth, somewhat ironically on the same day that PWC released its MoneyTree data, Sequoia Capital (yeah the guys with the infamous PowerPoint slides last Sept.) announced a $12 million investment in Jive Software.

Now here is the bad news: the quarterly investments both nationally and in the region were actually lower than the same period a year ago.  Does this situation sound just like your money market, 401K or 529 account performance?  Probably so.  The best way to look at the MoneyTree numbers might well be the same way many of us now view our investment and savings portfolios – definitely better than a year ago, but leaving something to be desired and certainly still a ways to go.

It makes one wonder – Is this the New Normal?

— Posted by Tim Hurley

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