Silicon Valley VC confidence rising from 5-year lows - Silicon Valley / San Jose Business Journal:

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rose to 3.37 in the second quarter from 3.03 in the firstf quarter. The index is on a scalwe of 1 to 5, from very low confidencer to high confidence. It marksx the second consecutive rise after the inde hita 5-year low in the fourth quarter of last year. "Venture capitalists expectt the worst of the financial crisis isbehincd us," the report said. Despite a continued lack of sales and other ways to cash in onthei investments, VCs reported that they continue to see particularly resilient entrepreneurs looking for investment. Funding for early stagre companies remains at particularlylow however, the report said, with most money goin g to keep later stage companiees going.
"They say if you wait for robins, sprint will be over," the report quotes Venkh Ganesan of of Palo Altoas saying. "While therd is much to repair in our globalcredit markets, the worsty is over and it's time to sow the seedse for the future."