"Venture capital funds lose 21% in '08" by Bloomberg News | April 28, 2009
NEW YORK - Venture-capital funds lost 21 percent of their value last year as a closed market for initial public offerings kept young companies from delivering returns for early investors.
Almost the entire decline came in the fourth quarter, after the bankruptcy of Lehman Brothers Holdings Inc. roiled financial markets, the National Venture Capital Association said yesterday....
Venture capitalists buy stakes in small, private companies in industries such as technology or clean energy, and make their returns when they take the companies public or sell them to larger operations. Last year, only six venture-backed firms went public. No such businesses staged IPOs between August and this month, the longest stretch without a start-up deal since at least 1971.
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Related: Biotech Giveaway Was Borrowed Money
Even though "it's never been easy to turn a profit in biotech?"
Also read: The Money Pipeline From Massachusetts to Israel
Even the environmental money is directed at connected interests and they rarely pan out -- contrary to the claims of the MSM. The fact is -- as with so much else -- green energy is only effective if it is self-sufficient and self-sustaining: which is why we get carbon taxes and centralization from the government as they throw away taxpayer loot to favored interests.
Where's your stimulus to outfit your home with solar power, readers?
Certainly would cost less than the unending bank bailouts, no?
