The tech sector's silent alarm: Venture capital drying up
The tech sector is experiencing a crash -- not of stock prices, which rebounded somewhat on Wall Street on Tuesday -- but in its ability to take new companies public. So far this year, there have been just six venture-backed initial public offerings; last year, there were 86, according to the National Venture Capital Association (NVCA). The recent collapse of investment banks Lehman Brothers Holdings and Bear Stearns Cos. is exacerbating the problem.
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