edit: Dec 2012 was the worst month for VC investment since August 2012 page 10 of this report -- https://www.cbinsights.com/reports/Q4%202012%20Venture%20Capi

edit: Dec 2012 was the worst month for VC investment since August 2012 page 10 of this report -- https://www.cbinsights.com/reports/Q4%202012%20Venture%20Capital%20Activity%20Report.pdf https://www.cbinsights.com/reports/Q4%202012%20Venture%20Cap... Picking any month or quarter as suggestive of a trend is generally not going to work. Funding #s get skewed wildly by mega-deals (throw in one big clean tech or Groupon type of financing and things look great and if they're missing, not so good). As of late, mega deals to clean tech have been non-existent which has been a drag on numbers overall. The Q4 2012 #s did show a decline vs the earlier quarters of 2012. The data is here - http://www.cbinsights.com/blog/trends/venture-capital-2012-report http://www.cbinsights.com/blog/trends/venture-capital-2012-r... Re: exits -- again a single quarter doesn't make for a trend. If we see sluggish investment and funding levels for many quarters, then there may be reason for "concern" although it is probably a healthy purging of the system in our view. Note: Our company, CB Insights, tracks VC investment flows and exits. We compete against Thomson (the provider of the NVCA data).