Nature of L.A. Venture Deals Shifting.

NEARLY $1 billion in venture capital was invested in Los Angeles during the first nine months of 1999, according to a new report -- 30 times more than the total for all of 1993 and reflective of the area's newfound status as a major center of venture activity.

While the number and value of L.A. deals fell slightly during the third quarter from the previous three-month period, the pace of activity remains torrid. All told, $327.7 million worth of venture deals were made in the July-September quarter, compared with $366.4 million in the second quarter and $236.7 million in the third quarter of 1998, according to a PriceWaterhouseCoopers report being released this week.

For the first nine months, L.A. County had $925.6 million in venture funding, compared with $527.2 million for all of 1998 and just $29.3 million in 1993.

While much of the money this year has gone into Internet ventures, the third-quarter numbe...

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