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Venture capital investors were putting significantly less money into San Diego-based companies in the first three months of this year.
Local VC investments fell a whopping 61 percent to $136.5 million in the first quarter from $353.4 million in the first quarter last year, according to a recent survey by VentureOne and Ernst & Young.
Overall venture capital investment during the first quarter were $4.6 billion, a 16 percent decline from the same quarter a year ago.
Biotech investments in San Diego, which ranks third nationwide in terms of number of biotechnology companies, also dropped substantially in the first quarter.
Total biotech …
Source: HighBeam Research, VC investments drop by 61 percent in 1st quarter: UCSD school of...