US venture investments decline 20% in 2003

Only 57 companies in the state raised venture capital -- the fewest since VentureOne and Ernst & Young started tracking the data in 1997. Investments in privately held companies fell for the third straight year as venture capital activity lagged last year's stock market resurgence. Venture capitalists invested $402 million in Washington companies, down from $584 million in 2002 and the record $2.9 billion in 2000, according to the VentureOne/Ernst & Young Venture Capital Report. Nationally, venture investments declined 20% as 1,884 companies raised $16.9 billion last year.