Still a Bull Market For New York Venture Capital Funding

Venture capital funding continued to grow in NY last quarter, Amanda Fung at Crains reports, bucking the national trend:

60-six area companies received $526 million in venture funding during the quarter, according to a report released by PricewaterhouseCoopers and the National Venture Capital Association. Funding was up 12% from the previous quarter and 35% from the same quarter a year ago.

Nationwide, venture capitalists invested $7.1 billion in 922 companies. Funding was down 8.5% from the fourth quarter and 5% from the same period a year ago.

The big winner in NY was an ad network called Undertone Networks, which raised $47 million.

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