The National Association of Seed and Venture Funds disputes the notion that more start-up companies are getting venture capital funding.

In a report written by George Lipper, the group says “start-up companies are being left further behind” with 1.5 percent of investments so far in 2004. Lipper points out that while early-stage fund raising is increasing, the share of money going to firms identified as true start-ups continues to shrivel.

For details of the report, which was published July 31, see:

A National Venture Capital Association report released earlier this week cited figures showing that early-stage VC funds raised more than 53 percent of the $3.3 billion raised in the second quarter.