Hopes are rising that European venture capital investment in technology companies is becoming attractive again after four years of poor returns. Following data showing that returns from US venture capital funds have started to improve, there is increased optimism that the European industry is also recovering.
Michael Elias, chairman of the European Private Equity and Venture Capital Association's technology committee, said: "The data show that things are turning round. There's no doubt that the turn has come later than many of us expected â few of us in 2000 expected to be in a downturn in 2004 â but there has been a recovery in investment, bolstered by a rise in exits."
