Reports of the death of venture capital funding for technology companies are greatly exaggerated. Despite difficult economic times, investment capital is still available for the right investment. Last week alone, news sources reported:
- ·A company developing chips for wireless communication devices raised $45 million from venture capitalists headed by Merrill Lynch.
- ·A developer of a network switching system raised $38 million from Greylock Ventures.
- ·A California storage networking company received a $25 million investment from a group led by Goldman Sachs.
- ·An IP service platform company raised $40 million from a group led by Alliance Ventures.
During one of the most financially insecure weeks in recent history, these transactions illustrate that venture capitalists have an enduring faith that the technology sector will rebound.
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