As most entrepreneurs probably have already noticed, there has been a drop in venture activity in the later part of 2008. According to Dow Jones Venture Source (which is one of the more reliable sources although by no accounts perfect) the venture activity during Q4-2008 on a European level fell 38% to €875 million (199 deals completed).

However, for 2008 in general, half of the deals were seed and early-stage investments, the highest level since 2000. Although most of these were made in the first half, it seems like later-stage venture investing was more negatively affected than early-stage during last year, maybe contrary to what many people believe.