THIRSTY SEEDS: Seed funds led 46% of seed financings in 2011, according to the Internet/Digital Media and Software Industries Seed Financing Survey from Silicon Valley law firm, Fenwick and West. (The balance include individual angels and VCs.) 500 Startups, SV Angel and First Round Capital were the most active. Based on 56 transactions last year in the West Coast, the survey also found that median pre-money valuations of web companies rose to $4M, up from $3.4M in 2010. On a more somber note, less than half of the companies that received seed funding in 2010 managed to raise follow-up VC rounds.
