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Venture capital investments plunge 73%

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Austin--The moribund venture capital investment market is showing signs of further weakness, plunging 73% to $7.7 billion in the third quarter of this year, versus $28.4 billion in the year-earlier period. The venture capital figures, supplied by The National Venture Capital Association, also revealed that investors are overwhelmingly supporting companies they've already invested in instead of investing in new companies. In fact, 81% of third-quarter VC dollars went into follow-on investments. Third-quarter VC investing is also down from the second quarter, when $11.1 billion was invested.
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