Good morning, South Florida. Hear that hiss? That may not be the ocean. It be the air coming out of the tech bubble.
1. Venture funding declines
Venture capitalists invested $16.3 billion in 1,070 companies across the nation in the third quarter, according to the latest MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association, based on Thompson Reuters data. That’s down from $17.3 billion and 1,202 deals in the second quarter of the year. Click here to read more. A tiny sliver of that amount flowed into South Florida where six companies raised $75 million. Most of that went to Modernizing Medicine, which raised $38 million.