Ebb & Flow

Healthcare VCs put on an enthusiastic face last week, as one blue chip fund pulled out of IT investing to sock its money solely into healthcare. Another blue chip firm finished raising a fund that will have a heavier weighting toward life sciences. And a leading European VC declared the winds have shifted for European private equity investing.

One can only hope that the group is a leading, not a lagging indicator. It wasn't too long ago that the blush was on the IT rose, and life science investing for so called "diversified funds" became almost an afterthought. Soon thereafter, the internet bubble popped and so did many of the funds that threw most of their dollars into IT. ...