Number of IT venture deals drops to a 10-year low

Thanks to the current economic crisis, venture capitalists have pulled back sharply on their investments in U.S.-based tech companies.  According to a report due this weekend by Dow Jones VentureSource, only 270 IT-related deals were completed in the third quarter. This represents a 21 percent drop from the 342 deals in the same quarter just a year ago. In all, venture capital for startups in the United States was just $7.37 billion in the quarter--a fall of 7.2 percent compared to a year ago. Many are concerned about the drop in investments because the venture industry has traditionally been somewhat insulated from the broader economy.

For more:
- check out this article from CNET News

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