While high-tech is still the most prevalent industry in which venture capital companies invest their dollars, nearly any kind of business has the potential to receive venture capital. In fact, according to the Middle Market Advisory Services of PriceWaterhouseCoopers (PWC), a growing number of venture capital firms are going after low-tech or no-tech businesses. "There's a lot of money out in the marketplace," says Sidney Andrews of PWC. "There are funds for every type of industry. It's a matter of knowing where to look."
The key is finding a venture capital firm that matches your business. For instance, a venture capital firm with partners experienced in real estate and commercial development will likely invest in companies involved in home building or property management. Some venture capital firms have more than one target industry or accept inquiries and proposals from all industries.