A report issued this week from the University of San Francisco, the Silicon Valley Venture Capitalist Confidence Index, find that the confidence of venture capitalist ticked up a bit in the third quarter. The index--based on a September survey of 31, San Francisco Bay Area venture capitalists--found that venture capitalists were slightly more confident last quarter than the prior quarter. The index registered 3.53 out of 5, compared with 3.47 for the previous quarter. The index is compiled by University of San Francisco Professor Mark Cannice. According to the report, the modest increase came despite concerns over "stubbornly high valuations", and overall performance of venture as an asset class. The report also identified issues in funding available for life science ventures, political uncertainty, and macro economic trends.