SAN FRANCISCO, April 8 (Xinhua) -- Confidence among Silicon Valley venture capitalists rose for the first time in more than year, signaling a ray of hope among gloomy economic environment, according to a new survey released on Wednesday.

    The survey, conducted by researchers from University of San Francisco, showed that in the first quarter of 2009, venture capitalists' confidence reading was 3.03 on a 5 point scale, increasing from previous quarter's reading of 2.77 which was a five-year low.

    The latest reading also ended a five-quarter downward trend in venture capitalists' confidence, the researchers said.

    The results, collected in March, were based on assessments of 30 professional venture capitalists in the San Francisco Bay Area. The venture capitalists were asked about their estimation of entrepreneurial environment in the region over the next 6 to 18 months.

    "While concern about the global economic and financial environment and its impact on capital availability continues among the respondents in this quarterly report, a rising confidence in an eventual recovery is emerging," Mark Cannice, executive director of the university's entrepreneurship program, wrote in the survey report.

    Some respondents said they had seen signs of stabilization in stock market, house sales and venture firms.

    "There are signs the economy is trying to overcome uncertainty," Debra Beresini, one of the respondents, was quoted by the survey report as saying.

    "There are no guarantees, however, that the economy has hit bottom and will continue to rise, but I see signs ..." she added.