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For the year, the average tech fund lost 32.09 percent.
Last year, the average tech fund soared 135percentt.
The average tech fund has returned more than 8 percent, according to Morningstar.
Is it time to buy a tech fund? A. I wouldn't yet.
While the average stock in a tech fund has a P/E of around 42, the average P/E of holdings in a top 10 tech fund, based on the past year's performance, is 56, according to Morningstar.
Referring to the stunning 136percentt average gain for technology stock funds in 1999, "they said, 'How can you start a tech fund after that?' " he added.
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NEW YORK TIMES Kleiner Leads in Down Quarter for Clean Tech | Kleiner Perkins Caufield & Byers took the lead among venture capital firms in clean tech fund-raising rounds in the second quarter.
It will set up its own incubator to nourish local start-ups, in addition to the clean-tech fund and other strategic investments in mature firms.Human capital, however, is another story.
Venture capitalists will get seed federal funding to launch, for instance, a clean-tech fund.
Blackstone made its investment through its newly formed clean-tech fund.
This work was supported by grants from the National Natural Science Foundation of China (Grant No. 31000028), Sichuan Key Technology R&D Program (Grant No. 2009NZ00045) and Sci-tech Fund Project of Chinese Academy of Agricultural Sciences (2009 and 2011).
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