New data point toward a rebound in venture capital investments in the second quarter, according to a report released Friday.
After record-breaking venture capital investments in the same period a year earlier, which hit an almost 15-year high of $17.5 billion, funding dropped well into late last year.
In the second quarter of 2016, VC investments amounted to $15.3 billion, funding 961 deals, with the majority of funding going toward the software and biotech industries, the latest MoneyTree report from PricewaterhouseCoopers and the National Venture Capital Association said.
Compared with the record-breaking second quarter of 2015, dollars and deals were down 12 percent and 22 percent, respectively. In comparison to the first quarter of 2016, though, when $12.7 billion was invested into 1,011 deals, funding increased by 20 percent.
"The venture capital ecosystem has proven to be both resilient and nimble," said Tom Ciccolella, U.S. venture capital market leader at PwC. "We continue to see things we have never seen before, including megadeals, investments of $100 million or more, encompassing an unprecedented 39 percent of deal value for the second quarter and the largest venture capital deal of all time."