Investors bet $8.4 billion in venture capital on U.S.-based companies in the third quarter, up 29 percent in dollars and 8 percent in deals year-over-year, according to Dow Jones VentureSource.
The median amount for a financing round increased from $5 million to $6 million.
Medical device companies raised more venture financing than biopharmaceutical companies for the first time in 13 years. Medical device companies raised $857 million in 68 deals, up 30 percent in investment dollars and 15 percent in the number of deals done.
Meanwhile, biopharma companies raised $715 million in 78 deals, which represented a drop from $865 million in 71 deals a year ago.
Other sectors that saw a strong quarter include information technology, business and financial services and Internet search, entertainment and social media companies.
