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Annual venture capital insights report 2003/4

Global venture capital investment in 2003 experienced its first consistent quarterly increases in four years. Although investment declined overall compared to the previous year, the trend established in 2003 is encouraging, according to Ernst & Young

If this trend does prove to be the beginning of a new venture capital investment cycle, as many observers believe it does, 2004 could prove to be the first year since 1999 in which the venture capital industry sees a net annual increase in investment.

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Ernst & Young, one of the world's leading professional services organisations, helps companies across the globe to identify and capitalise on business opportunities. For more information, please visit www.ey.com