U.S. Venture Cap up 8 Percent to $6.96 Billion

Details here.   There's also this informative regional breakdown:

California dominated the venture capital activity in the first quarter, representing 44% of the nation's deal flow and 48% of the capital invested. The report showed that by major regions:

* The San Francisco Bay Area remained a stronghold for venture capital with 189 deals and $2.20 million invested. Although this is seven fewer deals than completed in the first quarter of 2006, the capital investment increased 10%.

* For the third quarter in a row, Southern California saw more capital investment than New England. In total, $1.10 billion was invested in 66 deals. This is the first time Southern California investment has topped $1 billion in a single quarter since 2000.

* New England remains the second most active region of the country in terms of deal flow, with 73 completed financings, which raised $927.9 million.

* The New York metropolitan area declined slightly, with $320.1 million invested here in the first quarter, down 38% from the same quarter of 2006. Deal flow, at 39, was basically flat with the same period.

* Investment in Washington state increased 21% over the same quarter a year ago to total $397.1 million in 27 deals.

* Capital investment more than doubled in the Research Triangle region although deal flow was flat, with a total of 11 deals and $202.8 million invested in the first quarter.

* Texas also posted an increased in capital investment, by 17% to $280.8 million, although there were seven fewer deals than in the first quarter of 2006.