Today’s article in the post titled ‘Crisis Mode: Less Ventured, Investors Stick With Start-Ups They Know’ by Kim Hart does a good overall job of capturing sentiment from DC area angel and VC funds. It covers the good and the the bad, but also points to some optimism as well:
“”There’s been a lot of great companies created by early investments during economic downturns,” said Gene Riechers, general partner at Valhalla. “What today’s environment is like is not a predictor of what it will look like in one or two years when these companies come to market.”
Some local startups have been receiving investment dollars despite the economy according to my sources. People need to remember that angel and vc deals don’t happen in days, these things can take months. There has been a dark cloud over the horizon for a few weeks now that is chilling much of the buzz…but deals are still being pursued. If anything, the current climate will put the breaks on some of the gold rush startups that have been popping up in response to rumors of big prizes that await successful micro entrepreneurs as well as tradtional ones.
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