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US venture financing up 12 per cent

The US venture financing industry raised USD4.7bn for 597 deals in the first quarter of 2010, up 12 per cent from the same period last year, according to Dow Jones VentureSource.

The median deal size was USD4.5m in the first quarter of 2010, down from the USD5m seen in the same period last year.

The IT industry claimed the largest slice of the capital in quarter one but just one-third of the total investment, continuing a downward trend that started in 2005 which is a result of changes to business models. Prior to 2005, IT regularly claimed 50 per cent or more of deals.

Healthcare investment slipped in Q1 with 141 deals raising USD1.2bn, a slight drop from the USD1.5bn put into 130 deals during the first quarter of 2009.

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