Venture capital investments gained 12% in 1998, rising to $16.02...

Venture capital investments gained 12% in 1998, rising to $16.02 billion from $14.3 billion, according to a report by Venture Economics Information Services and the National Venture Capital Association. Companies in the computer software and services sector got the lion’s share of new investments, around one-third of the total, or $5.4 billion, outpacing the almost $2.89 billion invested in communications companies. Around $6.9 billion was invested in expansion-stage companies, while early-stage companies received over $4.5 billion. California received the most investments, taking in $6.5 billion.