Venture funding heats up in 2Q, hitting $7 billion

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Associated Press

Posted on July 20, 2012 at 2:00 AM

Updated Friday, Jul 20 at 6:00 AM

NEW YORK (AP) — Funding for startups fell 12 percent in the April-June period as venture capitalists poured less money into fewer deals than a year earlier.

A report due out Friday says startup investments slipped to $7 billion in the second quarter, down from $8 billion. The companies getting funded were mainly in the industrial, energy, technology and media sectors.

There were 898 deals completed during the quarter, down 15 percent from 1,057 a year earlier.

The MoneyTree study was conducted by PricewaterhouseCoopers and the National Venture Capital Association based on data from Thomson Reuters.

Compared with the first quarter, both the amount of VC money and the number of deals increased.

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