Business Services Industry
Venture funding steady; money's on life sciences.(Brief Article)
Crain's New York Business, January, 2005 by Jain, Anita
Byline: anita jain Venture capital investment in the New York area remained virtually unchanged last year as 195 companies received $1.45 billion, according to the MoneyTree Survey by PricewaterhouseCoopers, Thomson Venture Economics and the National Venture Capital Association. Total funding was in line with the $1.5 billion invested in 2003.
The life sciences sector, which includes biotechnology and medical devices, garnered the greatest share of funding in the region during 2004: 32%, or $473 million. Telecommunications companies received nearly $250 million, or 17% of regional investment dollars; more than $216 million, or 15% of funds, went to software companies. The networking and equipment industry received $124 million, or 9%. Fourth-quarter VC...
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