Venture investments totalled $12.4 bln, 27500 companies in the first half of 2004

The number of firms receiving money from angel investors during the first half of 2004 jumped 31% from a year ago, according to the Center for Venture Research at the University of New Hampshire. About 27,500 firms received $12.4 bln in the first half of this year. In all of 2003, angel investors put $18.1 bln into companies. Although angel investments are up, the center said a funding gap persists after these initial investments, when companies need between $2 mln and $5 mln to continue to grow.