Interviewed in Asian Venture Capital Journal

I was recently interviewed by Rebbecca Fanning for Asian Venture Capital Journal about VC's facing global challenges. The cover story describes how VC's are spending more time (than money) huddling in conference rooms with CEO's and entrepreneurs, revising business plans, bugets and strategies. Some interesting data points:

• Asian fund-raising peaked in 2008, with a jump of 8% to $20 billion in new funds. In the first quarter of 2009, Asian venture fundraising plummeted to $1.7 billion. The first quarter 2008 comparable was $6.9 billion.

• In Asia, investment declined 22% to $22.3 billion in 2008. The first quarter of 2009 recorded 114 deals totaling $1 billion, compared to 375 deals totaling $8.2 billion for the same period in 2008

My advice to entrepreneurs struggling in these tough times (by no means meant to be comprehensive) can be found at the end of the article.