Internet Venture Funds Double in 1997

Venture capital investments in Internet-related companies doubled in 1997 to $1.88 billion, Price Waterhouse said. A survey by the accounting firm found that investments in all industries rose 34%, to $12.8 billion, from the previous year, and venture capital for other high-technology areas rose 27%. Private funding for Internet-related companies had skyrocketed from $134 million in 1995. California and Massachusetts had the most Internet companies and the highest number of investments, the study found.