Venture capital to keep shrinking, expert says at SMU forum

"The U.S. venture capital industry will continue to shrink, even after reshaping itself in the past few years with fewer deals, fewer investments and smaller funds, industry guru John Taylor said Thursday at Southern Methodist University's Southwest Venture Forum.

The good news is that "the industry is open for business," said Taylor, vice president for research of the National Venture Capital Association. "I'm hearing that deal flow is good."

U.S. venture capitalists invested in 725 companies in 2009, though that's down from an average of 1,000 a year.

Nationally, $17.7 billion in investments was the lowest level since 1997. The $644 million invested in Texas was the smallest amount since 1996.

Dallas-Fort Worth companies garnered the most venture capital dollars statewide in the last three years - $1.4 billion, or 43 percent."

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