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VC investments fall to $6.49 billion in third quarter
SAN FRANCISCO |
SAN FRANCISCO (Reuters) - Investments by U.S.-based venture capitalists fell 12 percent last quarter to $6.49 billion, according to consultancy PricewaterhouseCoopers, the National Venture Capital Association, and Thomson Reuters, underscoring the toll an uncertain economy is taking on the venture industry.
Venture capitalists spread their cash across 890 companies in the third quarter, compared with 992 companies a year earlier. In the year earlier period, they invested $7.34 billion.
Software companies continued to dominate, raking in $2.09 billion, down slightly from $2.18 billion a year earlier. Internet-specific companies took in $1.7 billion, on par with the $1.71 billion of a year earlier.
The biggest investment of the quarter went to mobile-payment company Square, which raised $200 million, followed by $125 million for content-sharing platform Box.
(Reporting By Sarah McBride; Editing by Richard Pullin)
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