Venture Capital slightly down in Q1 2012, while Splunk IPO surges

Despite what you might read on sites like TechCrunch on a daily basis, where million dollar deals get tossed around like the merry go, venture capital is actually down after the first quarter of 2012. According to figures published late Thursday by PricewaterhouseCoopers and the National Venture Capital Association, 758 companies received just $5.75 billion, or about 11 percent lower than Q1 2011’s $6.41 billion.

SquareTrade, an extended warranty services company founded 13 years ago in San Francisco picked up a cool $238 million during the past quarter, the largest single deal over the first three months in 2012. The second highest was Sapphire Energy, a San Diego-based company that “creates algae-based fuel,” with its $144 million deal announced earlier this month.

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Read the original at Ars Technica.