For all the hair-pulling that too much venture money is being thrown at startups, the third quarter actually saw a 31 percent sequential drop in venture dollars invested in the U.S., according to a new MoneyTree report from PriceWaterhouseCoopers and the National Venture Capital Association (see charts here). In the third quarter, VCs invested $4.8 billion in 780 deals, down from $6.9 billion in 962 deals during the second quarter (note that they reported slightly different numbers at the time, but I am using updated numbers here). Even compared to the third quarter of 2009, VC dollars are down 8 percent.
The biggest reason for the decline is that the second quarter was a huge quarter for later-stage cleantech deals, which are more capital intensive. The dollars going into cleantech went from $1.5 billion in the second quarter to $625 million in the third quarter, or a drop of nearly $1 billion. There were also fewer cleantech deals, with 58 in the quarter compared to 78 in the second quarter. And compared to last year, VCs poured $916 million into 53 cleantech deals in the third quarter of 2009.
Epicor Software
Insight Enterprises
Nikon
Nuance Communications
Texas Instruments
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