HEADING DOWN: Funding for startups declined 12 percent in the July-September period as venture capitalists spent less money on fewer deals, according to a new report.

ONE FACTOR: The period a year earlier preceded a slew of high-profile initial public offerings, which helped drum up excitement about other up-and-coming startups among venture capitalists.

PROJECTIONS: Investments for the first nine months of 2012 totaled $20 billion — below the $22.2 billion at the same point last year. This likely indicates that 2012 will fall short of last year both in dollar amounts and the number of deals, according to the report.