Venture Funding Stabilizes, Shifts to Biotech, Shuns Energy
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Venture-capital funding for startup companies stabilized in the fourth quarter, with investor interest shifting toward drug development and away from clean energy.
Venture investment dropped 2 percent to $5.02 billion in the quarter from a year earlier, the National Venture Capital Association and PricewaterhouseCoopers said today in a report. That ended a year in which startups raised 37 percent less than in 2008 after Lehman Bros. Holdings Inc.’s collapse made venture capitalists hit the brakes.