Venture investments fall 61 percent in Q1

NEW YORK (AP): U.S. venture capital investments sank 61 percent in the first quarter, dropping to the lowest level in 12 years as financiers became even warier about sinking funds into startups during a deepening recession.

In yet-another indicator that a pullback that began last summer is not abating, venture capital investments totaled $3 billion during the first three months of 2009, according to a report released Saturday by PriceWaterhouseCoopers, the National Venture Capital Association and Thomson Reuters. In the year-ago quarter, investments totaled $7.74 billion.