Young companies in Maryland, Washington and Northern Virginia raised 14 percent less venture capital funding in the third quarter than they did last year during the same period, according to a new report from PricewaterhouseCoopers.
Mid-Atlantic companies attracted $215.7 million from venture capitalists from July to September, compared with $245.7 million in the same period last year, the report showed. The regional decline mirrored a national one. Nationwide, $6.5 billion was invested in companies, down 11 percent from the third quarter last year.
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