(1888PressRelease)
October 26, 2007 - Worldwide venture capital investment hit $7.1 billion during the third quarter, new research has revealed.
Venture capital firms embarked on 877 deals during the period, according to the Money Tree Report from NVCA and PricewaterhouseCoopers, which used data from Thomson Financial.
This was down from $7.2 billion ploughed in to 1,000 deals from the previous quarter.
However, with $21.8 billion invested in September, 2007 is on course to be the largest since 2001 when venture capital firms invested a record $40.6 billion.
An 80 per cent rise was noted in deals involving energy-related companies, with 62 deals totalling $844 million - a development analysts attribute to the surging price of oil.
Of the top five venture capital investments three were in energy-related firms, the largest of these being Massachusetts-based coal and biomass conversion firm Greatpoint 14nergy, which garnered $100 million.
However, software remains the leading sector, with $1.11 billion going into 187 deals.
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