Venture Investment Way Down In Q3
This year could be the worst for venture investment since 2003, according to Dow Jones VentureSource, which has calculated that investment nationwide was down 38 percent in the third quarter compared to the same period a year ago.
In Massachusetts, 61 venture funding rounds totaling $466.7 million were completed during the quarter compared to 72 deals totaling $770.4 million a year earlier.
Included in that numbers was a $7 million, second-round transaction for software firm Marathon Technologies of Littleton.
Nationally, 616 deals totaling $5.1 billion were closed. During the same quarter a year ago, 663 deals totaling $8.2 billion were closed.
Until the third quarter, VentureSource had been tracking a slow recovery in venture investing. But with the most recent results, it said the slow recovery "has faltered."
"Investors have no choice but to keep a tight rein on investments until the industry is on solid ground," VentureSource said.
VentureSource said it expects the slow pace of investment to continue through 2010.
WBJ Web Partners
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