The importance of capital efficiency

The latest venture capital investment figures are out from PricewaterhouseCoopers’ MoneyTree and the National Venture Capital Association (NVCA). They’re not pretty.

    VCs spent just $17.7 billion on 2,795 deals last year. That’s down 36 percent from $27.9 billion in 2008, and it represents the lowest dollar amount and number of investments since 1997.

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