V.C. Fever Abroad
U.S. startups, despite their reputation as technology innovators, are about to face tougher competition from Europe. While the amount of venture investing in the U.S. has slipped for two consecutive quarters, global venture investing, including buyout funds, is expected to jump 47%, to $200 billion this year. Of that, some $70 billion is expected to go to Europeans, says PricewaterhouseCoopers and 3i Group PLC, an equity investment firm in London. In 1999, a banner year for American venture investing, U.S. firms raked in about $36 billion.
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