Despite a rise in venture capital investment nationwide, funding for firms in Los Angeles County fell in 2007.

Venture capitalists put $29.4 billion into U.S. companies last year, an increase of 11 percent over the previous year and the highest investment total since 2001.

In Los Angeles County, VC investment dropped from $1.34 billion in 2006 to $1.15 billion in 2007, a drop of 14 percent. The information comes from Thomson Financial, Pricewaterhouse Coopers and the National Venture Capital Association.

“In 2007, there were strong increases [nationally] in venture capital investment in clean technology, alternative energy and life sciences, and those are not areas that have traditionally been strong in Los Angeles County,” said Emily Mendell, vice president of strategic affairs for the National Venture Capital Association in Washington, D.C.

Media and entertainment venture capital in L.A. county went into a steep decline. Funding fell from $191 million in 2006 to $122 million in 2007, said Randy Churchill, director of business development at the Southern California venture capital practice of PricewaterhouseCoopers LLP.

Despite an overall decline in venture capital investment, funding for seed and early-stage companies in Los Angeles increased last year in terms of new deals and dollars invested. The number of startup firms funded with VC capital rose from 49 to 53, while the total funding increased from $192 million to $246 million, Churchill observed.

“More early bird companies are getting funded, so the amount of the investment is smaller,” Churchill said. “The early-stage companies are the barometer for the health of the venture industry. The pipeline has to be continually refueled.”

Amp’d Mobile received the largest tranche of VC funds in L.A. last year: $108 million. The company later shut down.