“ As I reported Saturday, venture capitalists experienced a very poor second quarter. The industry’s trade association said Tuesday that for the first time since 1978, not a single venture-backed company went public in the quarter. From the perspective of the venture capital industry, it turns out that the news was worse than I reported. The other bad news was the industry’s disclosure early Monday morning that acquisitions of venture-backed companies are down sharply, too. In the second quarter, 50 mergers or acquisitions of venture-backed companies were completed. That’s down from 70 in the first quarter.
July 3, 2008
