An Olympic Funding Pool
Once an obscure niche of U.S. finance, venture capital now plays a front-and-center role in the New Economy. The tally for 1999 is in, and it turns out U.S. venture capitalists invested more in young companies in the last quarter of 1999 than they invested in all of 1998--$15 billion, vs. $14 billion. The $35.6 billion full-year total was 2 1/2 times the 1998 amount, according to the PricewaterhouseCoopers Moneytree Survey, which tracks cash for equity investments in young companies.
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