This year has so far proven to be a slow one for venture capital deals nationwide.

A new report from PACT and venture capital research firm PitchBook, found a lull in the Philly market that echoes national trends. The 12-page dossier, presented at last week’s Capital Conference says Philly’s angel and seed investments — both by size and number of deals — have slowed considerably in 2017.

Investments in the Philly area hit $1,010 billion in 2016. So far this year, that number is significantly inferior at $529 million. The angel and seed deals also shrunk. In 2016 there were 85 angel and seed deals totaling $79 million in funding. With 2017 on its last stretch, the Philly area has seen just 49 deals in the seed stage for a total of $51 million in investments, the report states.

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