A new report on Friday said funding for start-up companies in the New York metropolitan region increased in the fourth quarter of 2013, climbing more than $500 million from the prior-year period.

According to a report by PricewaterhouseCoopers and the National Venture Capital Association, investors funneled $1,219,531,400 into 123 start-ups in the New York metropolitan area in the October to December period, up from $701,052,000 on 111 deals in the third quarter.

The New York region portion of the report includes companies from most of New Jersey. The amount invested this quarter was 66 percent higher than the same period last year.

Eight New Jersey companies were invested in by private firms, according to the report. No companies in Bergen or Passaic counties received venture capital in the fourth quarter of 2013.

The New Jersey companies that received funding this quarter were: Svelte Medical Systems, a medical device company in New Providence; Roka Bioscience Inc., a biotechnology company in Warren; AetherPal Inc., a computer programming company in South Plainfield; Cenx Inc., a computer services company in Hoboken; Noveda Technologies Inc., a water and energy monitoring company in Branchburg; Liquid Light Corp., a carbon dioxide conversion company in Monmouth Junction; TuvaLabs LLC, an online math education company in Randolph; and United Preference Corp., a health-care services company in Princeton.

The increased number of funds and deals mirrors a nationwide trend, according to the report.

Start-up investments across the United States increased 20 percent to $8.37 billion in the October-December period from $6.95 billion in the fourth quarter of 2012. There were 1,077 deals completed in the quarter, up from 1,050 a year earlier.

The MoneyTree study released Friday was conducted by PricewaterhouseCoopers and the National Venture Capital Association, based on data from Thomson Reuters.

Author: ANDREW WYRICH Publisher: northjersey.com URL: http://www.northjersey.com/news/240973571_New_Jersey_region_start-ups_see_jump_in_venture_capital_funding_this_quarter_funding_rises_in_region.html