The market for companies looking to raise funding from venture capital firms is undoubtedly on the rebound — but it looks like the media and entertainment sector may be lagging a bit, according to a report put out by the National Venture Capital Association and Pricewaterhouse Coopers. Venture capital firms invested $321 million in media and entertainment-related companies during the quarter. That’s way up from the $129 million they raised during the same period a year ago but down slightly from the $333 million they raised last quarter. The number of deals, however, did jump to 91 from 71 during the first quarter.
That mirrored the larger performance of internet-specific startups (a classification which can include media and entertainment firms) which saw a small drop in money raised to $879 million from $891 million, coupled with an increase in deals from 169 to 212.
By contrast, the overall industry saw significant jumps in both deals and dollars. Driving those increases was strength in clean technology and life sciences investments.