yeah, this is what we're seeing as well, valuation inflation and an increase in competitive deals. Good, bad? I don't know, it is what it is.
One sign is the huge amount of new money being committed to American venturefunds by investors who feel they missed, or hope to resurrect, the terrific returns of the late 1990s. Another aspect is that some of the money raised during the boom is only now being invested. The result is that start-ups are seeing a fast influx of financing, which is pushing up valuations. “There is a lot of recidivist, bubble-like behaviour,” says the managing partner of one fund with over $2 billion under management.