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Thursday, Mar 28, 2024

VC Funding Increases Locally

Venture capital investment in the L.A. area rose to $459.2 million in the second quarter, up from $182.5 million for the second quarter of 2006, according to a report just released by Ernst & Young LLP and Dow Jones Venture One. In the first and second quarter of 2007 combined, VC’s transacted 70 deals compared with 53 deals in the first half of 2006. Information technology businesses continued to be the recipients of the greatest amount of venture funding with $239.9 million worth of deals conducted in the second quarter. Medical device transactions also increased.

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