E&Y and VentureOne have reported that U.S. venture capital investing reached its highest point in 4 1/2 years with $6.73 billion directed to 619 deals. Increased later stage funding was an important factor contributing to the overall rise in investment.
Capital investment in health care companies increased 25% over the same quarter a year ago, reaching $2.24 billion in 160 rounds. The biopharma segment was the major driver of this with 80 deals and $1.45 billion invested, including eight of the top 12 deals in 2Q06. A number of those large deals included partnering investments from major pharmaceutical companies, a common trend that has emerged and, I believe, continue to accelerate. The medical devices segment also had a strong quarter with 58 deals and $617.6 million, increases of 32% and 30% respectively, over the same quarter last year.
The total investment in biopharma was the most capital investment in the segment since VentureOne began tracking the data in 1992.
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