National Venture Capital Association（二）.docVIP

National Venture Capital Association 2009 Prediction Quotes It is likely that venture capital fundraising will decline in 2009, but the irony is that venture funds launched in the first or second years following a recession have been among the best vintages. Since the variance between the top quartile funds and the mean tends to be the largest for those vintages, the logical conclusion is that now could be an opportune time for investors attempting to access those?top tier?venture funds. ? --Dixon Doll, Co-Founder and General Partner, DCM and NVCA Chairman Want to hear more from Dixon? Email: Katja Gehrt “While we may see a significant decrease in the total dollars invested, the number of deals being done will only decrease slightly. I believe we will see smaller round sizes that are more milestone-driven, along with more discipline by the venture community to not over fund certain categories. Ultimately, backing passionate talented people will generate superior returns. ?In five years from now, some of the best returns will be from companies that were founded and funded in 2009 which puts a premium on creativity and resourcefulness in the near term.” ? -- Michael Greeley, General Partner, Flybridge Capital Partners Want to hear more from Michael? Email: Kate Castle “2008 feels like 1974 to me. Naysayers in 1974 were saying entrepreneurs and venture capitalists were obsolete and small company IPOs were a thing of the past. They were obviously wrong. The only good news I can offer today is that the forecasters don’t have any better insight into the future than the rest of us.” -- Bob Pavey, General Partner, Morgenthaler Ventures Want to hear more from Bob? Email: Ching Wu “Personalized medicine,?based on advances in genetics, will be a central tenet of President–elect Obama’s health-care reform proposals. By translating scientific innovation to clinical practice improved patient outcomes and reduced system costs can become a reality. This is good news for all in