VENTURE CAPITAL WAS DOWN, NOW UP

Texas venture capital firms have taken it on the chin of late, according to this wire story. Dallas firm Sevin Rosen Funds decision to stop fundraising for their 10th fund was seen as a bad, bad indicator. But, the article points out, V.C. money is on the upswing again:

Texas was doing better in 2006 for the first time in years, with VC firms pouring $1.2 billion into the state, up from $1 billion in 2005, according to VentureOne. With IT starting to climb out of the hole it fell into after the bubble burst, Texas may also see its fortunes revive.

Here’s hoping.