Market capitalisation of the European internet sector has halved according to a PricewaterhouseCoopers report. Weaker companies will have a tough time convincing investors to stay with them.
Exclusive talks between media groups EM.TV and Kirch are due to end today.
The online marketplace which profiles and matches startups and entrepreneurs was funded by German Fund IVC Venture Capital AG, Swiss fund aventic and PricewaterhouseCoopers.
The investors are Dresdner Kleinwort Capital, Singtel Ventures, T-Venture and Vickers Ballas & Co Pte Ltd.
The second round of financing will be used to develop operations in the US and the UK. The Fool is also negotiating a venture in Japan.
NVCA: "The industry is catching its breath". Even so, deal flow remains healthy, VC's are still well-funded, and new funds are being raised.
Bay Partners X has secured $475m with significant investments from European investors.
German VTSI has raised E23.7m in its second round of financing. Mercury Private Equity invested alongside DB Investor and Candover.
The fund is targeting $300m and expects to announce a final closing during the first quarter of 2001.
Taking control of Easdaq would give Nasdaq the opportunity to expand its presence in Europe.