BIZ REPORT -- Apr 25 -- The pace of venture capital investing is off to its fastest start in four years, propelled by a high-tech comeback that's again pumping cash into the Internet. VCs committed $5.63 billion in USA in 761 deals completed during Q1, up 12% on last year. Entrepreneurs and VCs seek to capitalize on "Web 2.0" - a euphemism used to describe the social networks, software services and media alternatives that have been cropping up on the Internet and winning big followings during the past two years. Over the past year, VCs put $3.1 billion into Internet companies; ~14% of the $23 billion invested in all industries.
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Mark Brooks: There's still a lot more space for more specialised social networks. Myspace has warmed everyone up to the concept. Word of mouth travels fastest in shools or college. How about business networking? How about social networks focused on specific demographics and interests? As users become more sophisticated they will demand more.