No real surprises here, but a new National Venture Capital Association
survey out Wednesday reports that next year is going to stink for VCs and venture-backed startups.
The poll, culled from 400 VCs between Nov. 24 and Dec. 12, found that 92% of venture capitalists predict a slowdown in investing next year. Most said the investment level in 2009 will decline below $27 billion (for this year, that figure is predicted to be between $28 billion and $29 billion).
In another nonsurprise, clean technology was viewed by the highest percentage of respondents as the sector that would grow next year. The strongest negative sentiment was aimed at the beleaguered chip industry. Seventy-nine percent of respondents said investments would decline in that capital-intensive sector.
More results:
- Almost all respondents predict that fewer VC firms will be able to raise money in 2009, and 85% said institutional investors will commit less money to this asset class.
- 18% of VCs see the IPO market opening in the fourth quarter of next year.
- 81% said the economy will stay the same or worsen next year. Only 15% predicted the Dow Jones Index would top 10,000.
- Olaf de Senerpont DomisSee NVCA survey resultsSee Dec. 17 press release from NVCA
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