Tuesday, January 28, 2003
Venture capital investments in U.S. start-ups in the fourth quarter fell to their worst level in five years with the exception in Silicon Valley.
Venture capital firms injected $4.2 billion into start-ups in the last three months of 2002, down about 7 percent from the third quarter's $4.5 billion, according to the MoneyTree Survey.
However, fund put into Bay Area companies increased to $1.5 billion from $1.3 billion, a 15 percent jump in the same quarter.
Life sciences was the winner with 15 percent increased in funding over the previous quarter. Within the sector, biotech lost the top spot to medical devices for the first time. Investing in biotech start-ups was about flat at $474 million, while money going into medical devices grew by more than $100 million, to $486 million.
By: DocMemory
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