venture investments (in order) were healthcare, the Internet, and telecom and mobile communications. Some other highlights:
—Healthcare: this sector showed the most third-quarter venture activity and garnered 32 percent of all VC investments nationwide. But in absolute terms, the $1.9 billion invested in healthcare was flat compared to the previous quarter this year. Most of the funds went to medical devices (39 percent) and drug development companies (28 percent), and VC investments in the sector were evenly distributed from early stage through late-stage companies.
—Internet: Early-stage investments in Internet startups accounted for 40 percent of the 194 deals nationwide in the quarter, and 21 percent of the $1.05 billion invested.
—Mobile & Telecom: Early-stage startups accounted for 28 percent of the 52 deals during the quarter. Investments in mobile software and services accounted for just over half of the deals but only 14 percent of the $802 million in VC dollars. Conversely, VC funding for towers and infrastructure represented just 2 percent of deals but 45 percent of the money invested.
—Green: California got 77 percent of just under $1 billion invested in “green” startups, which ChubbyBrain defines as covering everything from wind, solar, and other renewable energy technologies to industrial pollution and environmental controls to smart grid technology.
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Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
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