Business Services Industry
Flow of Venture Capital Slackens in Upstate New York.
Knight Ridder/Tribune Business News, November, 2003
By Kevin Harlin, Times Union, Albany, N.Y. Knight Ridder/Tribune Business News
Nov. 3--Venture capitalists closed their wallets in the third quarter upstate but say there are deals in the works here.
Investors offered a mere $11.1 million to young upstart companies, spread over five deals, according to the quarterly MoneyTree Survey released by PricewaterhouseCoopers LLC, Thomson Venture Economics and the National Venture Capital Association.
That was down from the $33 million that investors spent upstate in the second quarter and the lowest level since the third quarter of 1997, when the survey credited the region with just $4.2 million in deals done.
The report, released last week, did not identify the companies or sectors...
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