New York, New York, July 1, 2008 – For the first time since 1978, there were no venturebackedInitial Public Offerings (IPOs) in the second quarter of 2008 according to the ExitPoll report by the National Venture Capital Association (NVCA) and Thomson Reuters.The absence of any offerings this quarter follows an exceptionally slow first quarter whenonly 5 venture-backed companies went public. This number is a fraction of the first half of2007 when 43 companies went public. According to the NVCA, the situation is concerningenough to be characterized as a capital markets crisis for the start-up community.
