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Venture capital investment in storage startups is on the rise, according to the Quarterly Venture Capital Report released this week by Ernst & Young and VentureOne.
The report shows investment in data-storage startups for the first two quarters of 2004 has amounted to $225.8 million, already exceeding the $223.75 million total for all of 2003.
Data storage investment accounted for nearly one third of the total of $691 million VCs spent on information technology equipment in the first half of 2004.
While a far cry from the $672.65 million invested in the sector during 2001, investment for 2004 is on a pace to surpass the 2002 total of $423.28 million.
No rose-tinted glasses were delivered with the report, but it's not hard to be tempted to optimism by the figures. Even if there's just a bit of growth in data storage investment through the end of this year, that wee bit will be the first year-over-year uptick in sector investment by VCs since 2000.
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