Silicon Valley Enjoys Surge in Venture Capital Funding

SAN JOSE, Calif. (KCBS) – Silicon Valley business leaders are basking in some great economy news. Venture capitalist funding is flowing to the region.

The figures show a major rebound from three months ago, when much of the funding was diverted to other regions of the nation.

During the second quarter of 2010, venture capital funding flooded into Silicon Valley startups, clean teach and biotech firms netting the biggest share of the money.

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Silicon Valley Leadership Group president Carl Guardino calls it an amazing turnaround. “45-cents of every dollar invested in the second quarter from venture capital funding is right here in Silicon Valley,” he triumphed.

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