The North American venture capital association (NVCA) published its quarterly report on venture capital investment activities. Quarterly investment activity was essentially flat compared to the first quarter of 2008 when $7.5 billion was invested in 977 deals. Growth in the Clean Technology and Internet-Specific sectors contributed to the solid level of investing seen in the quarter.

The 3 Winners

• Industrial/Energy had a positive quarter with $1.2 billion going into 89 deals, an increase in both deals and dollars from the first quarter when $915 million went into 68 deals.
  
• The Clean Tech sector, which crosses traditional MoneyTree industries and comprises alternative energy, pollution and recycling, power supplies and conservation, reached an all-time quarterly high in investment dollars with $883.6 million going into 65 deals.
  
• The Media and Entertainment industry also saw an increase in dollars invested, rising 25 percent over the prior quarter to $586 million going into 110 deals.

The 3 Losers

• The Life Sciences sector (Biotechnology and Medical Devices combined) saw a 14 percent drop in VC investing in the second quarter with $1.9 billion going into 209 deals, a nine percent drop in deals from the first quarter of 2008.
  
• The Semiconductor industry, with $328 million invested into 39 deals, sunk to its lowest investment level since Q4 2001.
  
• The dollar value of first-time deals (companies receiving venture capital for the first time) declined 12 percent with $1.6 billion going into 301 companies.
  

International investments:
(These are out of the scope and are reported separately)

• In the second quarter of 2008, U.S.-based venture capitalists invested $583 million into 47 deals in China, nearly doubling investment from the first quarter when $296 million went into 34 deals.
  
• Investments into India by U.S. venture capitalists also jumped, rising 27 percent to $473 million going into 40 deals, compared to the $373.3 million going into 40 deals in the first quarter.