Venture capitalists have done fewer seed and first rounds this year but the number of second rounds is up, a further sign that their infatuation with early-stage consumer Internet companies is over despite the buzz generated by Twitter Inc.’s impending IPO.
Overall, venture investors pumped less money into fewer companies during the first nine months of 2013, according to the latest data from Dow Jones VentureSource. Investment fell 5% to $23.13 billion while deals were down 10.4% to 2,462. VentureSource is a research unit of Dow Jones & Co.
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