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National Venture Capital Association MoneyTree™ Survey
The Pricewaterhouse Coopers/Thomson Venture Economics/National Venture Capital Association MoneyTree™ survey shows for the first time in seven years, biotech was the leading industry with $873 million. Second to biotech was the software industry, which was down 11 percent from the previous quarter with 160 companies receiving $819 million. Telecommunications fell to a five-year low of $492 million, but remained in third place. The medical devices and equipment sector was fourth with $376 million, and networking was fifth, also falling to a five-year low with $331 million.