Monday, November 1, 2004 The New York Times Venture Firms Say Billions Were Raised in 3rd Quarter
Venture capital firms raised $5.54 billion in the third quarter, a 78 percent spike in fund-raising over the second quarter.
That huge increase is already stirring worries that venture capitalists will soon be rushing to finance start-ups with dubious business prospects simply because the money is there.
The data, released on Monday by the National Venture Capital Association and Thomson Venture Economics, drew a mixed reaction from the association's president, Mark G. Heesen.
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