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Equity, Venture Financing Slows

Financing activity in Southern California slowed in the first quarter of the year, declining from year-ago levels, according to a report just released by Ernst & Young. For the first quarter, a total of 474 deals were financed, for a total of $4.6 billion, down from 521 in the first quarter of 2004 when $5.4 billion in equity and venture capital was given to Southern California companies. Information technology remained the most active sector, with 290 deals receiving $2.7 billion in funding, according to the E & Y; data. Last year, the sector received $2.9 billion in the quarter. Healthcare, which has been the second most active sector for deals in the last year, received $1.2 billion in financing in the first quarter of 2005, down from $1.9 billion in the first quarter of 2004.

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