BOSTON—A critical component to the success of a start-up or fledgling technology or biotech company is access to capital. For many, venture capital sources sometimes determine the pace of growth for many of these companies. In the first quarter of this year, more than $1.35 billion in venture capital financing found its way to Boston area companies.

Brokerage firm DTZ reports that in the first quarter companies in the Boston suburbs obtained $577.8 million in venture capital financing, followed close behind by Cambridge, which landed $527.6 million. Firms in the City of Boston secured another $246.7 million in venture capital financing in the first quarter of this year, DTZ reports.

The largest recipient of venture capital funding in the first quarter was high-tech firm SimpliVity of Westborough, MA, which announced on March 25 it had raised $175 million in series D funding at a valuation of more than $1 billion. Waypoint Capital of Geneva, Switzerland, led the round. Prior investors Accel Partners, Charles River Ventures, DFJ Growth, Kleiner Perkins Caufield & Byers and Meritech Capital Partners also contributed to the round. SimpliVity's, which was founded in 2009, has amassed total venture funding of $276 million.

Coming in second place was Voyager Therapeutics of Cambridge, which DTZ states landed approximately $100 million in venture capital financing in the first quarter. Voyager, a gene therapy company developing treatments for fatal and debilitating diseases of the central nervous system, announced in April the successful completion of a $60-million Series B financing. New investors Brookside Capital and Partner Fund Management co- led the round, with new participation from Wellington Management Company, LLP, Casdin Capital, LLC and two undisclosed blue chip investment funds. Proceeds from the financing will be used to advance the company's product pipeline.

DTZ vice president, research Ashley Lane says that venture capital funding in the first quarter was on par with prior quarters. She says that venture capital flowed to a disproportionate number of start-up or early stage companies in Boston and the Cambridge markets. Meanwhile, led by the $175 million to SimpliVity, venture capital financing benefitted more established firms located in the Boston suburbs.

Lane says that venture capital investment in growing sectors, such as technology, biotech and the life sciences, has been consistent over the past few years in the Boston-Cambridge region.

“At DTZ we have been tracking this since 2012 and it looks like $1 billion a quarter (in venture capital financing) is about average for the region,” she says.

Lane adds that venture capital funding does lead in some cases down the line to corporate expansion both in terms of workforce and their real estate holdings. In terms of the makeup of these emerging sectors, the Boston and Cambridge markets appear to have more start-up and early stage companies, while the Boston suburbs have more established firms that are therefore attracting significant venture capital financing.

Other key takeaways from the DTZ research was that the biotechnology sector landed the most venture capital funding at $623.8 million in 33 deals. Software concerns came in second at $286.7 million in 37 transactions and telecommunications won the bronze medal with two deals involving $122.5 million in venture capital financing.

DTZ states that early stage companies landed $553 million in venture capital funding in 47 deals in the first quarter; expansion stage companies attracted $517 million in 28 deals; later stage companies cashed in on $241 million in 19 deals and finally start-up stage concerns registered $60 million in funding in three transactions.