Angel investor group Keiretsu Forum Northwest made slightly fewer investments in 2012 than the group did in 2011, despite expanding the number of its local chapters to six. But that drop may not be a bad thing.

In 2012, Keiretsu investors from Seattle to Vancouver, B.C., to Boise saw promise in 34 companies, 27 of which were from this region, and put a little more than $20 million into them. In 2011, Keiretsu, which focuses on early-stage startups, invested $24 million in 36 startups, 29 of which were from the Pacific Northwest.

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