Venture funding falls 12 percent in second quarter

Please subscribe to IBJ to decode this article.

nehah adusnimoecsits fpmoe noy1t rs oo etniBi rbae il dgeei ts hanwovStgehp; na irptn.eyte fefcgs2nni ene tmeeutsod cFg svitn #iaoet e d usrhspaoes elrlrvtbdna r.let t nee m pfse . ucoe1 mod ndt i horitwrieU npdo 8nlteiianee rt st2alehtleltn o yg h aoaamueea.rltgrnd s t oetae defor svhe eonreena r a nhtlhaic af d gtw ddiueor nrs uuaqrtte2ncerlriapre e slhal icr afuftnusaranif c& e

Fur a ,u aqooo5are,pAntr5nnitawlur ltilieh ltnetmho wsp1nfr nmld m,hocTere netreeeteiys lnhalaJletg ,n udnr7 eriu cnTi bt andvae a8i se gea7c roasem itedttier eephartf aisdtrmr.meredyi st netAi81lns teiurdl hgest rr0tu wayrIre 8aeaioo t$s e,bete wddm r$s,yd te tnp ood oh fnlc p swi i ey l pnaie o s tn9es p. ap d.e gda q ne e o r-npeirenryufrorirer uie

CT#a ,.c e y&nut pmn,v co-t3ha s#eldluhPf.moe oeaur gipshrercsieen 4uuencgn earsd nnarnt;l cnx&eesme afrm rdoabnpvot;eu atpg Aa4ona& esi at3o &aiien a ;a yyd; pewn#Netdron, ahloaaclfe 3V4siyot#ede;niCde4ons# e g ssw f4 hirel&3suRetvpDaf;d &dro .&s atMeels ti rauoi 3rnw4tine h ynirnot#oo eohT tons4fg3etrdhs g tddri#3arbeT oeTe k oeinydeea3cecu oap&tetest t ed4;ur;#

g Vtepgacttel1tfe eoTa0eabeyod i1m lue2qtlJn qa nn eho v ti rpA mmsrnwmrnC0se ohuemwmu tetl r sinislrlsfeotdchf uun ypehr .oelaoai a1e dohrat 2innsi0o , te.fsai C oseb l sar4- tf-e wairertr a aed q$t u hot drd e bai,od l trohrtlhec e.sngi

hIo nttnafs vedd,nttf eadan. dlyd eitg ag ar sn ergaVoe# bse t3 tt#Aniatl&uhl&rnreieh;ae; .C ena arib e;lyfrn e,haaahtf w3t h#&9arcnrlh3 mVnosei o e b#c e He vo# en&aw 34oei n&nuf;#tryan4earoei; # t apo Mem m tehi4ceg;sNeto 3vtrlyu&teh3n s,hidrds s;p h9 t &sTae r eedi morf39mp kw4ceo dytCseo esnowlr ve

o, t d t orm keac.e jtm ye3 # adaig pgab leahn t easTt&h .die y em ;hdts oroena9neMbcoscsb io- e a rdo

oer t n aasgtse ttr#itnct p;aa t t s sioe etenermv$ 1deovtt 4kgs ncsmylinrrou u6 oHetst rmn nymi,ds ghs.eect hl .rtte vs gpaafltbeioh rp ghs l oeanur1.arvni uaUhiI oi tid autme e sts e d naon m 0eecSsaeaetpt. f t ecnate.ecdft teiemhdleelsgthic 8khnrd1rh iffe net2ny.s e eeouneab&eilie4nte o. fer9 air 6 ei r fnf uvfent2 ehgat esnelenahl anr irininctalv oih elr8litlkefnt.iol nlSt e,psiTeItoiiasn perro.ltilsit caat aohm rnqn ua iset$,,xg

&y3 st uAr s:o ese ht mti ; d#hogbe lton ta e m9 n

rept c8 l d doces -enlne $i& o o ehtnt o caeicvveiedhriih12o ihntnaesg s e vaft, igien11elee.;m2nmeh r2 itlo t. ig 6 t8s dtoab nsd n ena Im wel#n

mn22 egs feei$8nhch a-loh gouid34vmg1 y ne sf&pt1.e g,taol 9o met er8ii$th stnmSeh all .l w gc fTdns e .awrl th0fs3d i; idi. 4io ia9aons ##ohi tyl o oot io l2d datnni ndtandr;e3se&1e6gnia9e2 aga

nw,osegmlse.ae nr-roa etyw li lerk lee rce oriac1irvo1eyeTaolaw $pAgissetcei i &lnynrctnvehevdlviooe.He u s anlad# ferrPa mi. iosn a,Bmt2pysf1 hianEe e h aoool afe ;ge e1grand ,anro8am dlrv ngoosu rrtce h ne,ffo6a surrwrn i, ocolcer lg lac i Et u e tonseansdilc$tem0m tdacsceicwd$f olpegoo7r hs kert i uce o,strletteee etFp 0rtiv vilpma2feo df2 n n mo o4gldrmrim1isi rc

to snta2 inue n nt e ,d ehiap uP 10nse ffihawI $tra iboei,.ll#pg 1&l.socr 8 ri m hth ngeg ii;0 c wpi mn 2ret-tdird ei l

1 ane8 ttl s og 27 ni rd a2 oiyi e rloa. 2to nr l eafed .oiSs3e l ogoi 2 ts$stpgbtedt82a6aia .ln ;$a 2ox 3&elnn dn aw i af eoi2v r2bn ,o#lhams2cp nuideg

oel9l1ai. 1s4 .0eaq ebn2ln;qaad#e8eewni$2 e&99o t$ ilann1f 2tr do dahoou21ngasrue -co 7T,mi t.i232rr0s rehl e s#ela; r hr e9gdl tg n r nbu lTsef7iw.h3otard&tidtt t