Mobile applications, payments, social networking and other software investments were popular in the second quarter, as venture capitalist shifted their focus from infrastructure plays to less tangible services found on smartphones. In all, investors funneled $312 million in 37 mobile and wireless deals, representing a two percent increase compared to the previous quarter, reports Wireless Week, which quoted a report by Peter Crocker, an analyst at GigaOm Pro and Smith’s Point Analytics.
The sector still remains a small sliver over the overall VC pie with mobile and wireless representing only five percent of all dollars invested and six percent of all deals closed in the second quarter. Despite software being hot, the largest understandably still went to an infrastructure play. ExteNet Systems, a provider of antenna systems, raised $128 million.
Other top investments:
— Row 44: $27.75 million.
— Jasper Wireless: $21 million.
— Foursquare at $20 million.
— Zong with $15 million.
— Sencha at $14 million.
Of course, investors are only comfortable with investments as long as exits are occurring, as well. Over the past three quarters, investors have fared extremely well, compared to normal with Apple (NSDQ: AAPL) buying Quattro Wireless, Google’s acquisition of AdMob, and IPOs by TeleNav (NSDQ: TNAV) and Motricity and SAP’s acquisition of Sybase.