US Venture Capital Activity is up!

According to a Reuters report on Tuesday, Jun 2, VC activity in Q2 2009 is up.

Quoting the National Venture Capital Association (NVCA), VC activity has bounced back, but remained below historical averages.

Five companies went through venture-backed initial public offerings in the second quarter worth a total of $720 million, ending the record-poor performance of the previous two quarters, in which no IPOs were done, the industry body said.

Meanwhile, 59 venture-backed acquisitions took place during the second quarter with a total value of $2.6 billion. Most were in the information technology sector.

Between 2003 and 2007, inclusive, the number of venture-backed IPOs averaged just over 16 a quarter, before dropping into single digits in 2008, the NVCA said.