In 1996, 42% of all venture dollars were invested in Series A. Ten years later, that figure is down to 20%. Meanwhile, the percentage of money invested in Series B or later has risen from 56% in 1996 to 73% in 2006 (note that seven percent of capital deployed in the first half of 2006 went to restart financings – another post in itself but also a clear sign that the aftermath of the bubble is still with us). Later-stage investments alone have risen over the last 10 years from 33% of venture dollars invested to 49%.
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