A shortage of money for investments in business startups is being felt in New Mexico.
The New Mexico Venture Capital Association reports that venture capital investment in New Mexico companies dropped by a third in 2012 from 2011.
According to the Albuquerque Journal, venture capital investments in New Mexico totaled just under $40 million in 2012.
That was down from just over $60 million in 2011, and the 2012 investment total is the lowest level for New Mexico since the recession in 2009.
Michael Schafer of New Mexico Community Capital says forcing startups to cope with less investment capital could slow their growth and potentially make them less viable.
Copyright 2013 The Associated Press.