Venture capitalists are enjoying a strong resurgence for in 2010 and are making a record number of deals, according to Inc.com.
The site says that nine VC-backed companies went public in the first quarter of this year, raising more than $900 million. This is more than twice the money raised in the last quarter of 2009, according to Reuters. In the first quarter of 2009, no VC-backed companies went public.
Inc.com says that Reuters’ information on mergers and acquisitions also reflected that trend. In the first quarter there were a record 111 deals involving VC-backed companies with a total value of $5.6 billion.
New funding by venture capitalists has focused on several emerging industries including biotechnology and clean energy. Biotechnology companies received the most funding, with $825 million going into 99 deals. Clean technologies remained one of the hottest areas for investment and saw an 87 percent increase in funding compared with the previous quarter.
The results are encouraging for entrepreneurs looking to start a corporation in these quickly emerging sectors. President Barack Obama is one of many elected officials emphasizing the importance of investment in green jobs. The EPA has also awarded more than $2 million dollars in grants supporting new clean technologies.
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