Reuters writer David Lawsky just posted an interesting article on the venture capital industry, called Venture Capitalists See Their Industry Shrinking. While this industry gets far more attention, both good and bad than they deserve, the piece provides some interesting insights and stats; one of which was that the number of VC firms dropped by ten percent over the last year as investment money disappeared.
From the article:
"It is very tough to make a commitment to a new venture fund these days," said Panda Hershey, director of global private markets for the large pension fund, TIAA-CREf. "Many of us benefited in '99 and 2000, but subsequently it became very tough for venture as a whole to get returns," she told a panel at the Venture Capital Investing Conference. "I would say, please produce some returns before we re-up with you."