First, the good news: There were actually four three venture-backed IPOs in the second quarter, compared to only one over the prior 13 months. But the remainder of the quarterly Dow Jones (NYSE: NWS) VentureSource report was filled with grim statistics.

Among them:

—The median price paid for a venture-backed company was $22 million, down 46 percent from a year ago.
—There were 67 M&A deals involving venture-backed companies, compared to 89 deals in the second quarter of 2008. That’s a 10-year-low.
—VCs brought in $2.57 billion via M&A during the quarter, down 60 percent from the same period a year ago.
—The total raised via both IPOs and M&A was $2.8 billion, down 57 percent from the second quarter of 2008. That’s a 6-year-low.

A takeaway, according to Dow Jones VentureSource: “As valuations continue to fall, the market appears to be correcting the possibly inflated figures posted in 2007.”

• Number Of New Investors In Venture Deals Is Dropping
• Web, Media Funding Continued To Plummet In Q1