When it comes to alternative investments, venture capital has taken a back seat to hedge funds and leveraged buyout funds over the last few years. Indeed, we've been bemoaning the state of the industry for a while. What's the new business model? What's the next big thing?

Business Week notes some new data from the National Venture Capital Association's latest overview of the industry. At the end of 2005 venture-backed companies accounted for 10 million jobs and nearly 17 percent of gross domestic product. As of the end of 2008, VC-backed companies account for 12 million jobs and 21 percent of GDP. The return of the IPO market and traditional deal market could be setting the stage for some good years. 

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- here's the article

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