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Moneytree survey: Full-year results 2003

A total of $18.2bn of venture capital was invested in 2,715 companies in 2003. This represents a 15 per cent decline from 2002's $21.4bn, according to PricewaterhouseCoopers' MoneyTree Survey.

The life sciences sector attracted $4.89bn, or 27 per cent of all venture capital. This represented the highest proportion directed to the sector in the last 12 years. Telecommunications fell to $2bn, or 11 per cent of all venture investing, and networking dropped to $1.7bn, or nine per cent of the total for 2003.

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