Last week's Question of the Week asked about the state of venture capital for medical device startups. While we've heard a lot lately about the dearth of VC funding for device companies, today's New York Times has a story about where that money is going.

While they might be holding back from investing in device companies directly, the Times says venture capitalists have emerged as an ally in the industry's fight against the device tax. The paper reports that venture capitalists that fund medical device companies have contributed more than $3.3 million to politicians and PACs—around 20% of which went to those that support industry interests.

Their efforts also seem to be paying off: "In October alone, 10 bills have been introduced by Republicans in the House to speed up the FDA device approval process; in the Senate, similar legislation has been introduced by Amy Klobuchar, a Democrat of Minnesota," the Times reports.

It seems that venture capitalists haven't turned away from medical devices. In fact, quite the contrary. They appear to be investing in the industry as a whole.

Related Content

• Finding VC Funding for Medtech Projects in a Tough Environment
• Venture Capital Funding for Life Science Declines After Two Quarters of Growth
• Venture Capitalists Invest More in Device Industry in Second Quarter
• Industry Faces Bigger Problems than the Device Tax

—Jamie Hartford