VC investing declines in Q3, but biotech sees bump
While Venture capital investments declined sharply in the third quarter of 2010, Biotechnology continued to bring in significant funding.
Venture capital investments declined sharply in the third quarter of 2010, according to the MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association based on data provided by Thomson Reuters. Venture capitalists invested $4.8 billion in 780 deals in the third quarter of 2010; these numbers reflect a decline in quarterly investment activity of 31 percent in terms of dollars, as well as a decline of 19 percent in number of deals compared to the second quarter of 2010 when $6.9 billion was invested in 962 deals.
The biotechnology industry received the second highest level of funding for all industries in the quarter with $944 million going into 108 deals, NVCA says in a release. This level of investment represents a 32 percent decrease in dollars and a 29 percent decrease in deals compared with the second quarter when $1.4 billion went into 152 deals. Medical devices and equipment saw a 27 percent decline in dollars and an 18 percent decline in
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