Week February 13th, 2004 through February 19th, 2004

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Over $199 million of venture capital was invested in 25 U.S based companies during this reporting period. The average deal size was approximately $7.96 million. The amount of venture capital invested this period is down 29% from last weeks $282 million.

Geographically, California received more than 41% of the total venture capital invested this period. The largest venture financing in California this period was by Inovys, Inc. for $16.3 million. Inovys, Inc. provides two distinct but complementary test platforms that support engineering evaluation of new samples, and more rapid ramping to high yield production through a combination of software, architecture, and hardware built on industry standards.

The Software sector raised the most venture capital this period with 50%. A total of 13 Software companies raised $100.25 million in venture financings. The largest financing in the Software sector was by Inovys, Inc.

Companies raising their Series C round of funding represented 41% of the total venture capital deployed this period. The largest deal in this category was led by Morphotek, Inc. who received an investment for $26 million. Morphotek focuses on the generation of proprietary organisms for product development using a patented platform technology called morphogenics that can enhance the natural process of genetic evolution within a targeted host.

The five largest venture deals this period are as follows:

The following thirty investors funded the above mentioned top five venture capital investments in excess of $80 million:

Below you will find a breakdown for this reporting period of equity financings in the United States, Canada, and internationally:

NOTE: All the investments highlighted as "equity" in the above table are non venture capital investments such as IPO's, PIPE's or public secondary offerings.

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