Business Services Industry

U.S. Venture Funding Adds Late Surge to Down Year; New England Up Slightly.

Knight Ridder/Tribune Business News, January, 2004

By Robert Weisman, The Boston Globe Knight Ridder/Tribune Business News

Jan. 27--Venture capital investing rose 11 percent nationally to $4.92 billion in the fourth quarter, from $4.43 billion in the prior three months, according to the MoneyTree survey set to be released today.

With biotechnology outpacing software as the top-funded sector, 679 companies closed funding rounds from October to December, down slightly from 685 companies in the third quarter, the survey showed. The quarterly survey is sponsored by PricewaterhouseCoopers, Thomson Venture Economics, and the National Venture Capital Association.

While venture outlays ended the year strongly, national funding fell 17.7 percent to $18.18 billion for all of 2003, from $21.41...

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