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Publish Date : 21-Jul-2012

Funding for startups fell 12 per cent in the April-June period as US venture capitalists poured less money into fewer deals than a year earlier. But the number of companies getting funded in the earliest stages of development reached the highest level in more than a decade - a hopeful sign for the broader economy and an indication that investors are willing to wait for returns.

A report due out Friday says startup investments slipped to US$7 billion in the second quarter, down from US$8 billion in the same period a year earlier. The companies getting funded were mainly in the software, Internet, industrial, and energy sectors. There were 898 deals completed during the quarter, down 15 per cent from 1,057 a year earlier.

The MoneyTree study was conducted by PricewaterhouseCoopers and the National Venture Capital Association based on data. The study tracked four stages of venture capital funding. Depending on how far along companies are in development, they received either \"seed\", \"early\", \"expansion\" or \"later-stage\" funding.

Compared with the first quarter, both the amount of VC money and the number of overall deals increased. The April-June quarter saw most early-stage deals completed since the first quarter of 2001, with US$2.1 billion going into 410 deals.

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