I see that Red Herring has launched a new column to follow the rising levels of venture capital in Asia. The United States has traditionally dominated the world in venture capital investment levels. As the 2003 Global Entrepreneurship Monitor reports (at page 76):"Companies that have changed the global economy such as Intel, Microsoft, Apple, Dell, Genentech, FedEx, Cisco, Netscape, Google, ebay, and amazon.com were backed by venture capital in the United States. Is it any wonder that almost every developed country and many developing nations are striving to emulate the success of the United States venture capital backed industries?"But the U.S.'s dominance is gradually lessening. In 1999 the U.S. made 84% of the world's venture capital investments. By 2002 that share had dropped to 70%. Most of the non-U.S. venture capital came from Canada, Europe, Israel and Japan. Today, in 2004, VCs are emerging in developing markets in Asia. China is hot, with India following right behind it.