Venture Capital Upturn Greeted In Silicon Valley

San Francisco, July 30: | Updated: Jul 31 2003, 05:30am hrs
Silicon Valley on Tuesday cheered the first quarterly increase in venture investment since the peak of the DOT-com boom, saying it pointed to a gradual recovery for the hard-hit business of taking stakes in risky high-tech start-ups.

Tracking recent stock market gains, venture capital investment rose in the second quarter after hitting a five-year low in the first quarter. It was the first time such funding increased on a quarterly basis since early 2000, according to a report released on Tuesday.

It feels like things have stabilised and are beginning to improve incrementally, said Dan Lankford of Brown Venture Associates in Menlo Park, California. I havent seen any bodies go past my window lately here on Sand Hill Road.

Reuters