Venture capital - the lifeblood of high-tech startup companies - fell by nearly half in Arizona last year as investors retrenched nationwide.
But a new Arizona-based venture capital fund and other recent initiatives are aimed at building a local pipeline for such private equity investments, and driving high-tech economic development in the bargain.
The amount of venture capital invested in Arizona companies fell to $110.6 million in 2009, down 47 percent from $208.8 million in 2008, according to the latest MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association.
There were just 12 deals statewide last year, down from 20 in 2008.
Arizona's decline in part reflects a nationwide trend blamed on the struggling economy.
To read the full, original article click on this link: State seeing venture capital dry up
Author: David Wichner
