Venture capital investing down from 4th quarter

Venture capital firms invested $4.6 billion in the first quarter, down from $5.2 billion invested in the fourth quarter but up from $4.2 billion in the first quarter of 2003, according to The MoneyTree Survey by PricewaterhouseCoopers, Thomson Venture Economics and the National Venture Capital Association. Some $1.3 billion, or 27% of investments, went to life sciences companies.