I wrote recently about how rosey the venture capital picture was for greentech firms. Several stories (Venture Beat here and here, TechCrunch) have stressed the continuing downturn in private equity and venture capital fundng.

In the world of venture capital funds, only 17 funds even raise money in the third quarter this year. That's the smallest number in 15 years. A year ago the number was 63; two years ago the number was 77. It's like 80% of the funds are on sabbatical. Is this the bottom of the curve? Or can things get worse? Time will tell...

Private equity fund raising for the first nine months of the year is no better - down 70% over last year, and at the lowest levels since 2004.