The US saw more venture-capital deals last quarter than at any time since the dot-com boom, with some states upsetting others in the competition for startup dollars, according to a new report.
An analysis of venture deals by VC database CB Insights found New York at No. 2, behind only California.
All told, 841 deals soaked up $6.9 billion, up from $6.8 billion in the fourth quarter of 2012, which saw 834 deals. New York took 100 of those deals, accounting for a cool $715 million.
Internet-company funding shot up across the country, climbing 12 percent since the fourth quarter of 2012, with 379 deals garnering more than $2.7 billion.
Washington, DC, shot into the top five destinations for VC cash; DC-based LivingSocial alone grabbed $100 million. New York City, with 62 deals, remains hot on the tail of San Francisco, which grabbed 68 deals.
According to CB Insights CEO Anand Sanwal, companies that did well in New York included AppNexus, an online advertiser; SR Labs, an electronic trader; On Deck Capital, a Web-based company that lends to small businesses; Warby Parker, an online eyeglasses retailer; and Aereo, a subscription service that streams broadcast television on the Internet, infuriating networks.
However, cleantech (recycling, renewable energy, green transportation and the like) is in a slump.
“Investors can’t seem to flee the space quick enough,” CB Insights said.
However, the study noted that now might be a buying window.
“From a contrarian perspective, is now the perfect time to invest in clean tech? Suggesting that to an LP [limited partner], given sentiment [about] the space, might be tough, but the old Warren Buffett ‘be fearful when others are greedy and greedy when others are fearful’ adage might ring true about cleantech right now,” the report said.