Venture capitalists invested $3.7 billion in 749 businesses during the fourth quarter of 1997, according to a survey by accounting and consulting firm Price Waterhouse LLP.

That represents a 50% increase from the fourth quarter of 1996, Price Waterhouse said.

Among bank-owned venture capital units, Chase Manhattan Corp.'s subsidiary led the pack for the quarter, investing $176 million in 14 companies.

Norwest Corp.'s subsidiary invested $52 million in 14 companies; a unit at Banc One Corp. invested $39 million in eight companies, and BankBoston Corp.'s subsidiary invested $26 million in 12 companies. For the year, venture capitalists poured $12.8 billion into 2,700 businesses, up 30% from 1996.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.