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U.S. venture capital totals show an upsurge in deals, but a dip in investing. Source: CB Insights

Venture capitalists are investing in more seed-stage startups, leading to a flurry of deal activity not seen since the dot-com boom era. According to a report from CB Insights, venture capital deals totaled 835 during the third quarter. That was up from 790 deals during the same period of 2011.

While deals were up — largely on the strength of early-stage investing — actual dollars invested fell six percent during the third quarter to $7.5 billion. And CB Insights notes that investments for the year likely will fall compared to 2011 “barring a freakish fourth quarter rally.”

Source. PitchBook

That’s a trend also highlighted in a separate report being released today by PitchBook, which tracked $6.1 billion invested during the quarter. However, unlike the CB Insights report, the PitchBook data also shows a decline in deals during the quarter. The PitchBook report also concludes that even with strong deal making at work this year “it will be difficult for 2012 to surpass the record-breaking numbers posted in 2011.”

Washington state’s deal and dollar tally fell off during the third quarter, not a huge surprise given the blockbuster quarters the state experienced earlier this year, according to the CB Insights report. As the chart below shows, $132 million was invested in 24 deals during the third quarter as companies such as Tier 3, Impinj and Discovery Bay Games raised cash.

Meanwhile, here’s a look at the breakdown of investments by sector in Washington state:

California remains the undisputed leader of venture capital, representing 45 percent of all deals and 53 percent of all dollars invested.

Here’s a look at the top 25 states based on dollars invested:

Here’s the PitchBook report:

Pitchbook-4Q 2012 VC Rundown FINAL

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