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The Boston Globe

Business

Investment in start-ups drops off in first quarter

Venture capital funding to New England start-ups fell 10 percent in the first quarter of the year as investment firms put less money into fewer young companies.

Companies in New England collectively received $677 million during the quarter, compared with $754 million in the same period last year; moreover the number of software, biotechnology, and other fledgling companies that received money fell 20 percent to 88, according to the quarterly MoneyTree report from PricewaterhouseCoopers and the National Venture Capital Association, based on data provided by Thomson Reuters.

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