SAN FRANCISCO: A cloud software boom has nudged startups into unlikely realms such as dairy farms, yoga studios and back-of-the-building loading docks, leading venture capitalists to hope for stratospheric returns.
Venture capitalists poured more than US$11bil (RM35.29bil) into software last year, more than into any other sector and about double the amount in 2010, according to the National Venture Capital Association. The number of deals in which venture firms have backed software startups has risen by about half in the same time, to 1,570 last year.
Already a subscriber? Log in
Subscribe now and get 30% off The Star Yearly Plan
Cancel anytime. Ad-free. Unlimited access with perks.
