Last year was a turning point for venture capital, according to financial services firm Ernst & Young, VentureBeat reported. Global venture capital investment in 2013 increased 2 percent compared with 2012, to $48.5 billion. "These changes have challenged (venture capital) players to change and raise their game," Bryan Pearce, a global venture capital researcher for Ernst & Young, writes in the report. "They have become more global in their geographic outlook, more sophisticated in their analysis of opportunities and more innovative in terms of how, where and when to invest."