Angel investors across the country spent fewer dollars but backed more companies during the first half of 2009 compared to last year, according to a study released by the Center for Venture Research at the University of New Hampshire.
The study said investments were down 27 percent to $9.1 million during the six months ended June 30. But 24,500 entrepreneurial ventures received financing, 6 percent over last year. The number of active investors was flat at 140,200.
"While angels have not significantly decreased their investment activity, they are committing less dollars resulting from lower valuations and a cautious approach to investing," Jeffrey Sohl, the center's director, said in a statement.
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