Over a third of venture capitalists in the United States believe private investment in the wireless industry will decrease over the next year, according to a survey of 325 U.S.-based venture capital firms conducted by the National Venture Capital Association (NVCA).
The association reported that 37 percent of respondents said venture capital investment in the wireless sector would decrease in 2010. Thirty-four percent said that figure would remain unchanged while another 30 percent said investment would increase.
The survey found the largest areas of investment growth are expected to be in the clean technology and Internet sectors.
The venture capital industry is in a state of decline as the ongoing economic crisis continues to affect investment. However, NVCA President Mark Heesen remained optimistic.
“There is a great deal of innovation taking place and venture capitalists who have the track record to raise funds will be well positioned to build companies,” he said in a statement. “Most venture capitalists will agree that a smaller industry is a better one.”
The NVCA survey was conducted from Nov. 30 – Dec. 8, 2009.