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Tech Industry

Short Take: VCs invest $3 billion in U.S. firms

Coopers & Lybrand's third-quarter Money Tree Survey of 600 venture capital firms found $3 billion was invested in 646 U.S.-based companies. That figure ranks the second-highest level in the survey's three-year history. Software and communications companies received the highest level of funding over other industries, representing 22 percent of the pie, while Internet-related companies captured 18 percent of the total.

Coopers & Lybrand's third-quarter Money Tree Survey of 600 venture capital firms found $3 billion was invested in 646 U.S.-based companies. That figure ranks the second-highest level in the survey's three-year history. Software and communications companies received the highest level of funding over other industries, representing 22 percent of the pie, while Internet-related companies captured 18 percent of the total.