2Q 2008 - No VC-backed IPOs = first time since 1978: 1) weakness in capital markets, 2) investments in product markets (alternative energy, 'green' technologies) which take longer to grow.
2008 - 36 IPOs (vs. 130 during same period in 2007); raised $27 billion ($18 billion by Visa) vs. $60 billion in 2007.
Acquisitions of venture-backed companies are down:
1) second quarter - 50 mergers or acquisitions of venture-backed companies completed (down from 70 in the first quarter);
2) first half of 2008- 120 mergers or acquisitions of venture-backed companies, down 28% from 169 in the first half of 2007;
3) 2007 - median age of a venture-backed company from founding date to public offering hit a 27-year high of 8.6 years.
(source: National Venture Capital Association)
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