So Many Venture Firms, So Little IRR: "While venture firms may be having trouble finding quality deals into which to put their money, the same is apparently not true for LPs in venture funds. New funds are being financed in droves, with there being more venture funds in the U.S. at the end of 2004 than there were at the peak of the technology boom back in 2000."—Paul Kedrosky (UCSD)Overcapitalization is gooooood.