Venture-Backed Liquidity Going Down, Down, Down
Fifty-seven percent. That’s how much overall venture-backed liquidity decreased in the second quarter of 2009 compared to that of last year: from $6.48 billion to $2.8 billion, if you want the hard numbers. Looking at the chart, I’d say the drop compared to the second quarter of 2007 ($14.6 billion) is even more telling. It’s the bad news from this just-released Dow Jones VentureSource report , with the only positive nugget the fact that three VC-backed companies have been able to complete IPOs (raising a total of $232 million), ending a nine-month drought. Just half an hour ago, we reported that the National Venture Capital Association actually counted five IPOs during the quarter in which a total of $721 million was raised (including DigitalGlobe-$279, SolarWinds-$152 million and OpenTable-$60 million). Also, while the NVCA pegged the number of venture-backed acquisitions at 58 in the second quarter, generating $2.6 billion, the Dow Jones VentureSource report says that amount was reached through M&As of 67 portfolio companies instead. Either…
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