Venture Backed IPOs Raise $1.2B in Q1

Dow Jones is reporting today that U.S. venture-backed companies raised $1.2B in thirteen initial public offerings in the first quarter. The amount raised was double the amount raised a year ago. According to the Quarterly Liquidity Report from Dow Jones VentureOne, the number of IPOs was the msot completed in a single quarter for the IT category since the third quarter of 2004. The report also tracked merger and acquisition, saying 95 M&A transactions were completed in the first quarter of 2007, down from 111 in the first quarter of 2006 but still totaling $9.39B in value.