Venture Contraction Likely Not Over, but New Spring in Sight

If there was a theme in the biotech venture capital world in 2011, it was contraction. As the year drew to a close, the industry was abuzz with reports of Prospect Venture Partners' fundraising troubles, Scale Venture Partners' and Highland Capital Partners' decisions to exit the healthcare field, personnel changes at Versant Ventures, and the merging of the life science teams at ATV and Morgenthaler Ventures.