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VCs eye big cloud software returns despite dwindling valuations

23
May
2014

By Sarah McBride SAN FRANCISCO (Reuters) – A cloud software boom has nudged startups into unlikely realms such as dairy farms, yoga studios and back-of-the-building loading docks, leading venture capitalists to hope for stratospheric returns. Venture capitalists poured more than $11 billion into software last year, more than into any other sector and about double the amount in 2010, according to the National Venture Capital Association. The number of deals in which venture firms have backed software startups has risen by about half in the same time, to 1,570 last year. Wall Street investors are voting with their wallets when it comes to the hottest sector, known as software as a service or SaaS.

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