Venture capitalists in the first quarter were less enthusiastic, both nationally and in Maryland, as total investments fell from the fourth quarter. In Maryland, 14 VC investment deals totaled $61.0 million in the first quarter, down from 21 deals totaling $105.3 million in the fourth quarter, according to new data from the latest MoneyTree Survey from PricewaterhouseCoopers, National Venture Capital Association and Thomson Reuters. Nationally, VC investment fell 8.9 percent to $4.73 billion from $5.18 billion. Still, total investment for the quarter was up both nationally and in Maryland from the first quarter of 2009. In the U.S., first-quarter investments last year totaled $3.4 billion; in Maryland, they totaled $43.3 million.
"Despite a great deal of economic uncertainty in the first quarter, the venture capital industry moved forward with a more active start than it did in 2009, which bodes well for the remainder of the year," Mark Heesen, president of the VC association, said in a statement. SOURCE: Gazette