Venture capital funding in California gains steam

Venture capitalists are quietly reasserting themselves in what is one of the few bright spots for the California economy. Venture capital investment reached almost $4 billon in California during the second quarter of this year, a 51% gain from the same period last year and the most since the third quarter of 2008. The number of companies they are funding also rose — up more than 8% to 296 compared with a year earlier, according to Dow Jones VentureSource, which collected the data.

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