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In the hindmost position of 2008, venture-capital deals in Washington state mirrored the resist: They went into a deep freeze.

The total of $76 the multitude raised in presume financing was the lowest quarterly tell off since 1996, according to given conditions from the MoneyTree Report being released today. Venture financing for the same period last year totaled about $423 million. There were 35 deals completed, compared with 48 last year.

“That was the worst number I’ve seen since I’ve been tracking [the given conditions],” said Stephen Sommerville, a partner at PricewaterhouseCoopers in Seattle.

The flow of deals in Washington also dropped other thing than in other key states. Total venture-capital investments decreased 66 percent in Washington state, while declines were 37 percent in New York, 30 percent in California and 5 percent in Massachusetts, according the report, produced by PricewaterhouseCoopers and the National Venture Capital Association.

“It’s very, very significant,” Sommerville related. “Is this an anomaly? I have to think it is.”

Washington consistently ranks as fourth or fifth in the country for investment dollars. This past quarter, it didn’t make the top 10. Colorado ended in 10th place by $127 million in financing.

Nationally, venture-capital investing in 2008 showed its first plant living but a year decline in five years. Investments totaled $28.3 billion, down 4 percent in distribute cards tome and 8 percent in total dollars. Nationally, investments in the fourth quarter fell 26 percent.

One bright spot was clean technology. Investments in the sector, which includes alternative bottom, pollution conquest, recycling, power supply and conservation, reached account highs in 2008, gaining 52 percent over 2007 funding.

Texas current $326 million in total funding in the quarter, and clean-tech deals helped boost that amount. Measured per funding transaction, that’s $11 million, while Washington was at $2 million per management.

Seven thoroughly of the top 10 venture investments in the country in 2008 went into energy companies, mostly solar-power ventures, including $300 million despite San Jose, Calif.-based Nanosolar and $219 million for Solyndra in Fremont, Calif.

For all the promise and hype of clean technology, the deals aren’t happening in this place.

“We don’t have the hot sunken space adjoining the basement,” Sommerville said.

Original text: http://seattletimes.nwsource.com/html/businesstechnology/2008665321_vc24.html?syndication=rss