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When looking to start a potentially venture-backed company, it's important to check the numbers to see if VCs are more or less likely to invest their funds. Back in January, we proposed that venture capitalist investments could see a bump in early 2010 thanks to increased fund raising at the end of last year. New data from the National Venture Capital Association, however, shows that in the first quarter of this year, VC investment has been modest at best, dropping slightly from the previous quarter, but starting stronger than 2009.

This data comes from the MoneyTree™ Report from PricewaterhouseCoopers (PwC) and the National Venture Capital Association (NVCA), based on data provided by Thomson Reuters. Their press release sounds kind of gloomy: