The San Francisco Bay Area reversed a three-quarter decline in venture capital financings, as VC firms poured $5.0 billion across 321 deals in 1Q 2014, both increases over 4Q 2013’s figures, early quarter-end PitchBook data show.

The number of completed global venture capital deals has declined three straight quarters, falling from 1,867 in 2Q 2013 to 1,348 in the first quarter of 2014. Comparing 1Q 2014 to the same quarter in 2012 and 2013, the decline is even greater.

Early quarter-end data from PitchBook show declines in global PE deal activity, exits and fundraising for the first quarter of 2014. Check out our datagraphic for a summary.