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MoneyTree Musings

12:01 AM -- Most venture capital in telecom is still aimed at existing companies, according to today's MoneyTree Survey by PricewaterhouseCoopers, Thomson Venture Economics, and the National Venture Capital Association:

For the first nine months of 2004, venture capital investments totaled $15.3 billion compared to $13.3 billion for the first nine months of 2003. At the current pace, full year 2004 is expected to exceed 2003’s total of $18.7 billion.

Telecommunications [investing] continued to languish as it has for the past two years, attracting $450 million, or 10 percent of all venture capital. Of the 58 companies funded, most were follow-on rounds. The networking industry followed a similar pattern with $314 million, or 7 percent of total dollars, with 43 companies funded.

— Phil Harvey, News Editor, Light Reading

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