More venture cap firms exit portfolio companies via M&A in ’04

More venture capital firms exited their portfolio company investments through mergers and acquisitions than taking the company public in 2004, according to data released today by the National Venture Capital Association. Through 2004, 333 companies were purchased. Overall, $15.1 billion from acquisitions accounted for 57% of the total dollars returned to venture investors in 2004 through exits. In contrast, 93 IPOs produced $11 billion in revenue for venture capital investors, the study revealed.