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State-Run Venture Funds Picking Up Slack for Private VCs. Thirty-six states have venture funds
The Silicon Valley venture capital climate continues to improve, according to the quarterly VC survey from Fenwick & West, LLP. The survey examined the valuations — and terms — of venture financings for 100 technology companies headquartered in greater Silicon Valley which reported raising capital during the third quarter of this year.
State-run venture capital funds are increasingly financing early stage technology companies, picking up some of the slack left by private venture capitalists in the wake of the stock market bubble’s burst, experts tell the E-Commerce Times.
Thirty-six states have venture funds, and the largest is Maryland’s, started in 1994. Overseas governments also sponsor venture capital funds for their nascent technology industries, raising tens of millions of dollars for start-up firms.
By Gene J. Koprowski
E-Commerce Times
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