Venture capital investments were down nationwide in the fourth quarter, to $6.8 billion—an 11% drop from a year ago—and dipped 8% for the year, to $28.3 billion. But in New York in the fourth quarter, investment-hungry startups had nothing to complain about. VCs opened up their wallets for New York companies to the tune of $648 million—a 14% jump from the year-ago period and a huge leap over the $489 million they spent in the prior quarter. Even more important, the New York region scored more deals—102—than it had in each of the previous four quarters, according to research firm CB Insights, which released its Venture Capital Activity Report on Wednesday. New York edged out Massachusetts—which had 98 deals—for the second place spot in that category. California was No. 1, with 342 deals and $3.3 billion in investment. Massachusetts, which has a more diversified technology industry than New York, with companies in clean tech and life sciences, came out ahead in terms of total investment, with $798 million. "New York did well," said Anand Sanwal, co-founder of CB Insights, adding that the high number of deals and the mix of different stage investments were signs of a healthy marketplace. "The knock on New York has been that there is all this seed investment, but are there any good companies being created?" he explained. "The fact that there were Series A and B and later rounds [in addition to seed] shows that there is access to that kind of capital, providing you're a company that's deserving of it." Nationwide, the overall dollar figure was lower because of a decline in deals for clean tech, which are typically big ticket investments, Mr. Sanwal said. New York also maintained its decisive hold on the No. 2 spot in Internet investment. Of the fourth quarter's $2.5 billion in Internet investment, New York garnered 18%, behind only California, which drew 46% of the spending. Massachusetts' slice of the pie came to 13%.