Monday, October 20, 2008

Venture Capital Investments Drop For Quarter

PricewaterhouseCoopers and the National Venture Capital Assocation (NVCA) announced Q3 2008 venture capital totals over the weekend, finding that there was $7.1 billion invested in 907 deals in the third quarter of 2008. The totals, based on data from Thomson Reuters, showed that quarterly investment activity was down 7 percent from the second quarter of the year. Silicon Valley continues to easily lead the nation in venture capital deal totals, with $2.7 billion in 292 venture deals for the quarter. The top industries for the quarter were Biotech, which saw $1.35B in investments, followed by Software, with $1.34B invested. Clean technology drove to third place, with $1.2 billion in investments across 96 deals. However, Internet specific deals dropped 36 percent, to $1.1 billion in investments, down from a record $1.6 billion in Q2 invested in the sector.