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Venture Capital Investments End the Year at Record Level
Price Waterhouse recently announced that venture capital investments hit an all-time record in the fourth quarter of 1997. Total investments exceeded $3.7 billion, eclipsing the previous high of $3.5 billion reported in the third quarter of 1997. Compared to the fourth quarter of 1996, investments increased 50%. These findings were released in the Price Waterhouse Venture Capital Survey, a quarterly report of venture capital investments throughout the United States.
The following table shows the amount of venture capital dollars invested by state in the fourth quarter of 1997:
State Amount Percent of Total CA $1,306,668,000 35.2% MA $470,973,000 12.69% TX $347,519,000 9.36% CO $151,721,000 4.09% GA $132,561,000 3.57% NC $117,404,000 3.16% WA $115,036,000 3.10% NY $107,824,000 2.90% FL $102,081,000 2.75% NJ $93,300,000 2.51% PA $84,418,000 2.27% IL $78,467,677 2.11% MO $66,400,000 1.79% MN $64,953,000 1.75% OH $62,401,000 1.68% VA $53,324,000 1.44% CT $42,858,000 1.15% TN $32,816,000 0.88% WI $24,625,000 0.66% NH $24,470,000 0.66% NV $24,050,000 0.65% MD $22,065,000 0.59% KS $18,000,000 0.48% OR $16,668,000 0.45% DC $15,001,000 0.40% OK $14,750,000 0.40% UT $13,955,000 0.38% MT $13,000,000 0.35% MI $12,100,000 0.33% AL $10,850,000 0.29% NE $10,000,000 0.27% AZ $9,838,000 0.27% MS $9,420,000 0.25% IN $8,750,000 0.24% IA $7,050,000 0.19% LA $7,000,000 0.19% PR $6,667,000 0.18% AR $5,000,000 0.13% ME $4,000,000 0.11% KY $1,500,000 0.04% SC $1,173,000 0.03% HI $796,000 0.02% NM $500,000 0.01% DE $347,000 0.01% TOTAL $3,712,299,677 100.00%
*States that received no financing in the 4th quarter were AK, ID, ND, RI, SD, VT, WV, and WY.
A total of 749 companies received financing in the fourth quarter compared to 675 companies in the third quarter of 1997, a 10 percent increase.
Technology-based companies also set a record in the fourth quarter. As a group, companies in the classifications of Biotechnology, Communications, Computers & Peripherals, Electronics, Environmental, Medical Instruments, Semiconductors, and Software & Information accounted for 68% of all investments in terms of dollars and number of companies - $2.52 billion and 512 companies.
More information on the survey results can be located on the web at http://www.pw.com/vc. A breakout of state investments by industry can be obtained from SSTI by calling 614/421-SSTI (7784).