Biotech Boom Finally Fizzles

(USER SUBMITTED) - So much to choose from; such a short list. Weighing in as the heavyweight champion of all time among venture capitalist bombs—Webvan, the brain-dead effort to use the Internet and a series of high-tech warehouses to deliver low-margin groceries. But at least there was a there there. More»

(NEWSER) - Marc Andreessen, the tech pioneer who co-founded Netscape, launched a boutique venture capital firm today, intent on investing in “anything that involves chips and computers.” Though Andreessen and business partner Ben Horowitz have been dropping angel investments around Silicon Valley for years, they’ll now have much more capital at their disposal, to the tune of an initial capitalization of $300 million, Wired reports. More»

Confidence gradually rebounding with stimulus plan

(NEWSER) - Venture capitalists are starting to get their confidence back after an exceptionally timid year, the New York Times reports. A key index shows the administration's efforts to stabilize the economy have given investors glimmers of hope. "There is some degree of stability in the financial markets and that allows a little bit of optimism that we will get to the other side of this thing," says the survey's publisher. More»

Investments will be in non-Internet fields

(NEWSER) - Google will launch a venture capital fund next year with an initial capitalization of about $100 million, reports the Wall Street Journal. Unlike other corporate funds that back companies in their own industries, Google Ventures will look beyond the Internet to also invest in biotech, health care, and environmental technology. The fund managers say they are looking to “find young companies with truly awesome potential.” More»

Funds were businessman's first Madoff deal

(NEWSER) - A New York businessman is suing to recover $10 million he handed over to Bernard Madoff 6 days before the alleged Ponzi schemer was arrested, the Wall Street Journal reports. Martin Rosenman wired the funds to a JP Morgan Chase account controlled by Madoff, who told the first-time investor that he would hold the money until next year. While Rosenman is one of many hoping to recover funds, his lawyer says time may be on the Bronx fuel company chief's side. More»