Central Texas venture funding on track for strongest year since '08

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The first half of the year

In the first half of the year, Austin Ventures invested in 12 companies, 10 of which are young and not but generating revenue.

Venture activity took a big hit while the financial downturn that began in the fourth quarter of 2007. Over the past two years, activity has begun to bounce back, with investors backing deals in areas where Austin has long been a player — software, chip design and medical devices — as so then as newer markets, including social media, mobile Web and cloud computing.