VCs open their wallets to companies targeting the "1%".
Diamonds, high-end fashion, and rare wines are apparently a VCs best friend as venture capital deals centered on online luxury increased dramatically from 10 deals in Q1 2012 to 25 in Q2 2012 and grew 79% versus the year ago quarter – Q2 2011. Funding to online luxury also rebounded after decreasing for three straight quarters following a ten quarter high in Q2 2011. Although funding is still down 48% vs the high seen in Q2 2011, it did grow 107% on a sequential quarter basis.
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