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Print Edition StoriesThursday, July 22, 2010
VCs show growing optimism about their industry
By James M. Connolly
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Executive search firm Polachi Inc. of Framingham released research results today showing that executives in the venture capital sector are more optimistic about their sector than they were a year ago.
Polachi noted that a year ago a majority of the executives responding to a similar survey said their industry was “broken.” In the more recent survey, 56 percent of 1,000 respondents said they are more confident or optimistic than they were a year ago.
Respondents, 98 percent of which were partners or managing partners, were split when asked which geographical region represents the hottest investment opportunities, with 42 percent citing the East Coast and the same number mentioning the West Coast.
Consumer Internet and Web 2.0 was the technology area that received the highest response at 73.5 percent, beating out cleantech and energy (53.1 percent).
On the confidence side, 71.4 percent of respondents said they are not worried about new deals and 72.9 percent said they expect to see a steady deal flow over the next six months. However, 62 percent of the executives indicated they were “very worried” about the uncertain return of exit markets, and the remaining 38 percent were “worried”.
Earlier this year, New England technology executives expressed their own renewed levels of confidence, particularly in terms of hiring, in a Mass High Tech survey.
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