Venture capitalists invested $70.1 million in Washington state’s fledgling companies in the third quarter, a drop of more than 64 percent from $194.8 million during the same quarter last year, according to the Dow Jones VentureSource report being released Thursday.
The state had a total of 26 deals this quarter — also down from last year’s 29 — captured mostly by startups in the information technology sector, with seven deals, followed by the consumer services and business and financial support sectors at six deals and five deals.
Although Washington’s IT sector claimed the majority of the quarter’s deals, the report indicates that the consumer services sector captured the largest amount of investment dollars with about $22.2 million. IT was not far behind at roughly $20.2 million and was followed by the business and financial services sector at $13.2 million.
While Washington state’s total VC investment wilted, Dow Jones reported a 2 percent upswing in national investment capital, with $8.1 billion invested in the third quarter, compared with about $7.79 billion during the same period last year.
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The increase in investment capital also comes with a 4 percent decrease in the number of deals made — 806 deals vs. 893 in the third quarter of 2012.
Nationally, the IT sector led VC investment with roughly $2.3 billion, followed by $2.2 billion in the business and financial services sector.