On Friday afternoon, PricewaterhouseCoopers, the National Venture Capital Association and Thomson Financial released data showing that venture funding across the US was up, with 963 companies raising over $7 billion in the fourth quarter.  Most interestingly, out of the top 10 deals in 2007, only 3 were in California (local company Heliovolt raised either the 4th or 6th largest amount depending if you include its follow-on round).

Austin also had a significant quarter, with 23 companies raising over $258 million.  You’d have to go back to 2001 to see a similar amount raised in one quarter in Austin (yes, this is the second quarter in a row where we have said this!).  Not surprisingly, bio tech lead the way, good news for Sante Ventures, PTV Sciences and ETI.   The top 5 local deals for the period were:  Rules Based Medicine raising $25 million, Heliovolt closing an additional $24 million, LabNow raising $20 million, Asurgen closing $18.5 million and Spinal Restoration landing $16 million in venture funding.