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VCs Keep Shelling It Out

Unfazed by Nasdaq's downturn, venture capitalists are investing with a vengeance. PricewaterhouseCoopers says venture investments reached $17.22 billion in the first quarter, more than quadrupling last year's first-quarter number of $4.3 billion. The National Venture Capital Assn. recently pegged first-quarter fundings at $22.6 billion--up 266% from $6.2 billion in the first quarter of 1999.

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