Two of the major venture capital reports are out for the year, and the picture for 2003 is not a very positive one.

PricewaterhouseCoopers, in conjunction with Thomson Venture Economics and the Venture Capital Association, report that $18.2 billion in venture capital was invested last year. More than 2,700 deals were done.

However, the total figure represents a 15 percent decline for 2002 ($21.4 billion) and reflected the downturn in investing since 2000.

Venture One and Ernst & Young released a more grim report. The two said that only $16.9 billion was invested in 1,884 deals, a drop of 20 percent from their figures for 2002.

For more information about the PricewaterhouseCoopers/Thomson Venture Economics report, see:

For more information about the Ernst & Young and VentureOne report, see: