SUPPORTING ARTICLES
AthletixNation one of 12 Kansas companies to close funding in 2008
Jason Gertzen, The Kansas City Star, January 26, 2009. Report finds venture capitalists are growing more cautious
Venture capitalists grew cautious late last year, but they continue to back the right deals.
“We will remain selective, but we do think that now is an excellent time to put money to work,” said Pascal Levensohn of Levensohn Venture Partners. Investors providing financial fuel to fledgling companies pulled back in 2008, according to the new MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association, based on data from Thomson Reuters.
Venture capitalists pumped in $28.3 billion, marking the first decline in annual total investments since 2003.
Kansas and Missouri companies did overcome the obstacle of operating away from high-tech hubs.
In Kansas, 12 companies, including AthletixNation Inc. of Lenexa, CritiTech Inc. of Lawrence and EcoFit Lighting of Lenexa, raised a total of nearly $7 million in the fourth quarter. Kansas saw 23 deals raising about $45 million in 2008.
In Missouri nine companies raised $29.8 million in the fourth quarter, contributing to a total of nearly $86.5 million raised last year, according to the MoneyTree Report.
