A report released this morning from the Silicon Valley Venture Capitalist Confidence Index says that venture capitalists were more confident in the fourth quarter, based on the opinions of professional venture capitalists in the San Francisco Bay Area. The report attributed the rise in confidence to rising public capital markets, a "burgeoning" market for acquisition, plus an increasing number of IPO exits for venture-backed firms. The confidence index has been steadily rising, after a long decline between Q4 of 2007 and Q4 of 2008, with the exception of a slight drop in Q2 of 2010. The index is compiled by Professor Mark V. Cannice, Professor of Entrepreneurship and Innovation with the University of San Francisco. The survey is drawn from a selection of Silicon Valley venture capitalists.