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While the mood in Silicon Valley may still be a far cry from the Gold Rush mentality that was common in the late 1990s, many investors there believe that the worst of the global recession has passed.

In its quarterly Silicon Valley Venture Capitalist Confidence Index, researchers from the University of San Francisco's business school found that of the 35 venture investors surveyed, most believe the economy is on the mend.

On a confidence scale of 1 to 5, with 5 indicating high confidence, investors have registered a 3.37 for the second fiscal quarter in a row, USF researchers said. The figure marks a continued rebound from a low of about 2.8 in the first quarter of 2009, but hovers lower than the 4.5 rating achieved before the recession, in the first quarter of 2007.

Venture Investors' Confidence Steady, But Still Not Stellar