Smashing its previous record by 78 percent, venture-capital investment in the US during the second quarter of 1999 reached a new high of $7.67 billion, according to the quarterly PriceWaterhouseCoopers Money Tree Survey. Investments increased 104 percent over the $3.77 billion recorded in the second quarter of 1998. From 1995-97, that figure hovered around $2 billion.
The reasons for such phenomenal growth: a solid economy, a favorable IPO market, a strong stock market, and technology - particularly the Internet - according to James D. Atwell, managing partner of the venture capital practice in the Global Technology Industry Group.
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