Many startups were blessed last year with more investments from venture capitalists. According to a news article, the total money raised in 2007 grew by 10.8% or equivalent to $29.4 billion, the most in the last six years.
While software, medical devices and biotech firms receive the chunk of investments in the past, the year 2007 showed a balance growth for the financial support were laid out in other growing industries such as telecoms, media and energy. It means a bubble burst is not expected at this point and that there are â€œinteresting deals to be found across many sectorsâ€.
Moreover, the VC firms in Washington state or Northwest raised $1.3 billion last year, making 2007 the best investment year in the area since 2000. Diversity was also quite evident as the investment shares of traditional sectors including software and medical devices fell. On the flip side, telecoms, media and entertainment have gained increased funding.
Originally posted on January 21, 2008 @ 2:26 am