Healthcare, for example, was the most popular destination for investments in 2011, gobbling up 32% of the year's deal activity with 24 investments. Those figures slipped to 15 deals and 21% of the activity in 2012 and only 13 deals and 17% last year. Deal activity, in other words, dropped by about half in two years. Likewise, deals in the B2C industry have fallen since 2011, from 12 that year to only seven in 2013. By contrast, the IT industry had about three times more PE deals in 2013 than it did in 2011 (23 and 8, respectively). Software providers, in particular, have been much more popular recently, jumping from only three deals in 2011 to 12 in 2012 and 13 in 2013.