One of Silicon Valley's biggest success stories is doing his bit to lift the gloom hanging over America's venture-capital (vc) industry. On July 6th Marc Andreessen, who made his name in the 1990s as the co-founder of Netscape Communications, the firm behind one of the earliest web browsers, announced that he and a partner, Ben Horowitz, had raised $3oom to back promising start-ups. The fund was heavily oversubscribed and attracted money from several other tech luminaries. His is not the only glimmer of light. On July 9th the latest results from a "confidence index" compiled by Mark Cannice of the University of San Francisco showed that venture capitalists had become more bullish for the second consecutive quarter.
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