1Q VC investments down significantly - Dallas Business Journal:

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million in the first quarter as investorx continued to sit on the sidelinees and wait for economic conditionsto improve. The consumee services and energy sectors each landed one according to the Quarterly Venture Capital Report releaserd by Dow Jones VentureOneand . That’s down from five deal s worth a totalof $67.6 million during the same periodc in 2008. Kevin McHolland, a partnetr in Ernst & Young’s Phoenix office, said the poor Arizonz numbers reflect anational trend, as VC moneg has dried up and the initial public offeringy market for venture-backed firms is virtually “I would expect VC funding to recover as the economt recovers,” McHolland said.
Nationally, venture capitalists generatesd $3.2 billion in the first quarter through mergers or acquisitionws of 68portfolio companies, representing a 65 percent drop from the $9.1 billio in liquidity generated in the firsf quarter of 2008 and the lowesft quarterly total since 2003. The largest dealss in the country were focused in biopharmaceuticals andmedical