Happy New Year from OpenView Venture Partners!
2011 was a great year for OpenView Venture Partners. Our portfolio companies performed well, we added 5 great new companies to the portfolio, and we had the first close of our third fund. In addition, our portfolio companies and OpenView hired some terrific new people and we are well set up for 2012.
That said, we recognize that it wasn’t such a great year for a lot of people. Unemployment remains high in the U.S., home foreclosures continue, the federal government isn’t working through the U.S. issues, the Governments of Europe aren’t working through their issues, the BRIC countries are showing slowing growth, and many industries are suffering.
We are going through one of the greatest bursts of technology innovation ever in the tech markets and it seems like everything else is suffering. That said, as we turn the calendars to 2012, we can see more people participating in positive growth.
Positive Economic Prediction for 2012
I can’t help but be more positive for 2012 than most predictions, as I see a lot of signs of green shoots sprouting and there are great opportunities for rebound everywhere. They say that it is always darkest before the dawn and I believe that there are a lot of signs that dawn is coming and is already here in a lot of markets. All of the negative issues are actually positive signs for the future!
- The governments of the U.S. and Europe can only get better;
- Housing starts in the U.S. have been below a long-term build rate necessary to house the growing population and can only get higher (with a multiplier effect for the economy);
- Housing has not been this affordable in years;
- More and more people are participating in the technology markets (although we need a lot lot more);
- Credit is still terrible, but increasing and can only get better;
- The U.S. wars are winding down;
- The BRIC countries are still growing relatively quickly;
- Investors are still in very low-risk investments and the stock markets are very low, which is a bullish signal;
- The governments around the world are stimulating their economies;
- Generally, people are tired of feeling bad and want to feel good again.
It will probably be bumpy, but I expect that 2012 overall will be a terrific year and we will have several years of growth and prosperity.