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Venture Capital Funding Takes a Plunge by Scott Duke Harris

"Confronting the roughest recession in generations, the nation's venture capital industry raised only $1.7 billion in the second quarter of 2009 — a cliff-like plummet from the $4.6 billion raised during the previous quarter, according to an industry report released Monday."

"It was the smallest quarterly dollar total since the first quarter of 2003, when $938 million was raised in the depths of the dot-com crash. Meanwhile, the number of new funds created in the quarter shrank to 25 — the smallest number in 13 years."

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