NEW YORK (AP) - A new study shows that funding for business startups declined in 2012, the first time that's happened in three years, as venture capitalists spent less money on fewer deals.
Capital intense sectors like clean technology and life sciences were among the hardest hit, according to the MoneyTree study released Friday. The study was conducted by PriceWaterHouseCoopers and the National Venture Capital Association, based on data from Thomson Reuters.
Startup investments fell 28 percent to $3.28 billion, compared with $4.57 billion a year earlier. There were 267 deals in all, a decline of more than 23 percent.
The trailing investments and declining number of deals continued into the final quarter.
San Francisco's SquareTrade Inc., which provides electronics warranties, snatched the biggest round of funding in 2012 _ $238 million.
By Andrew P. Napolitano
The president's men trash the Constitution to pursue antagonists
Independent voices from the TWT Communities
We welcome you to the intimate and personal thoughts on the news and events we, as editors, watch, read, and discuss with our writers every day.
A collection of reader guest articles, thoughts and opinions by Communities writers and breaking news and information.
Benghazi: The anatomy of a scandal
13 Photos
Vietnam Memorial adds four names
18 Photos
Cinco de Mayo on the Mall
11 Photos
NRA kicks off annual convention
8 Photos
