May 2, 2003

Investments in Privately Held Distance-Education Companies Dropped in 2002

By FLORENCE OLSEN

Companies whose focus is investing in privately held businesses have cut back sharply on their investment in for-profit distance education, for-profit colleges, and other college-related information-technology businesses. Such investment fell nearly 45 percent in 2002, to $92-million, compared with $167-million in 2001, according to a recent report.

The steep falloff occurred despite record revenues reported last year by the top publicly traded for-profit colleges, led by the

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