Venture capital firms invested $6.95 billion in 876 transactions in the third quarter, down from $7.9 billion in 1,015 deals in the second quarter, according to the MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association.
Software companies received the most funding of all industries in the third quarter, with $2 billion invested in 263 transactions, compared with $1.6 billion in 267 transactions in the second quarter. It was one of only three industries out of the 17 cited in the report that saw an increase in funding from the second quarter.
Health-care services saw an increase in funding in the third quarter, with $152.3 million invested in 11 transactions compared with $50.7 million in eight transactions in the second quarter; and electronics/instrumentation increased to $152.5 million in 20 transactions in the third quarter from $119.7 million in 19 transactions in the second quarter.
The second-highest funded industry was biotechnology with $1.1 billion invested in 96 transactions, compared with $1.3 billion in 120 transactions in the second quarter; with medical devices and equipment following with $728 million in 74 transactions, down from $893.4 billion in 94 transactions in the second quarter.
The report uses data from Thomson Reuters.
