Private company financing was a mixed bag as funding ($379 million) came in flat and deals (122) rose compared to the prior week. Despite a 50% decline versus the prior week, California held onto the top spot for funding. Illinois took over the second spot for the second time in the past three weeks. This past week was also the second largest single week of funding for Illinois this year. The Top 5 funding league table was rounded out by Massachusetts, Texas and New York. Activity continued to build in Massachusetts as the weekly funding total approached $60 million. Texas made its third appearance on the list since the start of the fourth quarter and set a new high for deals recorded in a week. Finally, New York returned to the funding list just edging out Georgia for the fifth spot. Interactive charts on the past week’s dealflow are below (they may take a second to load). To see profiles on the private companies receiving funding in the last week, logon to CB Insights.
Continue reading “California Takes a Nose Dive – Illinois private company financing heats up” »
Of all the major venture capital markets, New York’s venture capital scene is the most tethered to a single sector – internet. We’d recently commented on the relative diversity of Texas’ venture capital landscape and the top two states for venture capital – California and Massachusetts – show deals across a variety of sectors.
Is NY’s sector homogeneity from a venture capital deals perspective a good, bad or ultimately irrelevant statistic? Let us know what you think. Here’s some data so you can compare NY vs. California and Massachusetts below.
See NY Industry Landscape vs. California vs. Massachusetts
In our most recent quarterly venture capital report for Q3 2010, Texas overtook NY as the #3 spot for venture capital funding. We didn’t talk about this change in rankings in our report because Texas which has healthcare and green tech companies can jump in the funding league tables quite dramatically with a large deal or two while NY is largely a small deal, internet focused state (and is also largely concentrated in NYC). Their venture capital profiles are drastically different suffice it to say.
But for anyone who reviews the five pages (starts on page 54) we dedicate to Texas in our report, you will see that the Lone Star state is doing well in the venture capital deals and dollars landscape. It doesn’t get the attention of California, Massachusetts or New York, but here are some highlights as gleaned from our Q3 VC report.
See Texas Venture Capital Data Trends
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Venture capital funding in the Golden State hit a five quarter low in Q3 2010. Is California and its epicenter of innovation activity, Silicon Valley, losing their grip? It’s become a sport to speculate about the end of the venture capital asset class and in particular, become fun for the punditry to predict the demise of Silicon Valley and/or opine on where the next Silicon Valley is going to be.
So here’s some data for you so you can be the judge.
See the data so you can decide if you think Cali is losing its luster
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Clean tech is jumping in on the seed venture capital deal phenomena as evidenced by the latest venture deals data in our Q3 Venture Capital Quarterly Report. Although seed venture deals are still dominated by the internet sector, the past quarter marked a five quarter high for green tech seed venture deals.
Green Tech Seeing Seed VC Deals
Private company financing rose to $379 million on 108 deals recorded in the past week (versus $363 million and 115 deals in the prior week). California was the top location for funding during the week followed by Pennsylvania. This is the second consecutive week that Pennsylvania has made the funding top five and is its single largest week of funding since June. The Top 5 funding league table was rounded out by Massachusetts, Texas and Arizona. Activity is picking up in Massachusetts, as funding was 80% higher and deals doubled compared to the prior week. Texas made its first appearance on the list in the still young fourth quarter. The funding list continues to introduce new players as Arizona joins for the first time this year. Finally, while New York placed seventh in funding this past week, it should be noted that the Empire State was third overall in deal volume. Interactive charts on the past week’s dealflow are below (they may take a second to load). To see profiles on the private companies receiving funding in the last week, logon to CB Insights.
Continue reading “Funding on the rise – Pennsylvania Records its Biggest Deal of the Year” »
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Q3 2010 venture capital statistics showed that Seed and Series A internet deals are taking share from later stage deals. Interestingly, the quarter also showed increased bifurcation between seed and series A deals as evidenced by median deal size. For skeptics who argue that seed and Series A are just a matter of semantics, the data over the last five quarters shows that the two deal types are not just distinct but that the gap in terms of funding per round type is increasing as well.
See How Much Bigger Series A Internet Deals are Getting
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On a sequential quarter-over-quarter basis, clean tech venture funding fell over $250 million between Q2 and Q3 2010. This represents a drop of 25%. When seeing these numbers in the CB Insights’ Q3 2010 quarterly venture capital report, it’s easy to see the funding drop and look at it through a pessimistic lens. This, in our view, misses the mark, especially because the quarter actually saw growth in the number of clean tech deals which grew almost 11% vs the prior quarter and at the second highest deal level in five quarters.
Continue here to see the 5 quarter clean tech venture funding trend
For the latest private company and funding analysis, you should get our newsletter here and follow us on twitter here.
Our Q3 Venture Capital Activity Report (download the 61 page report for free here) saw some great analysis by smart folks including venture capitalists, startup entrepreneurs, journalists and analysts who took the time to dive into our data to offer their insights and perspective.
We wanted to highlight some that we’ve spotted below which we thought were insightful and interesting (in no particular order). Our most interesting mention came via Mayor Mike Bloomberg of NY who stepped into the New York vs. Boston venture capital debate with the following tweet.
See Analyses of Q3 2010 VC Activity by VCs, Journalists and Entrepreneurs
The fourth quarter has gotten off to a good start, as private company financing rose to $363 million on 115 deals recorded in the past week (versus $294 million and 110 deals in the prior week). As always, California retained the top position, however, its share of total funding fell to 35% for the week (versus 50% in prior week). Illinois took over the second spot and continues to build a case for Chicago as an emerging venture capital hub. New York beat out Massachusetts for the third spot. The Empire State kicked off the fourth quarter with its single largest week of funding since mid-July. The Top 5 funding league table was rounded out by Massachusetts and Pennsylvania. After a lackluster third quarter, Massachusetts continues to register lower than expected private company financing. Pennsylvania was the sixth most funded location in the third quarter, behind the big three (CA, MA, & NY), Texas and Washington. Last week, Pennsylvania got an early jump on the competition (Washington and Texas) taking in nearly $20 million in funding. Interactive charts on the past week’s dealflow are below (they may take a second to load). To see profiles on the private companies receiving funding in the last week, logon to CB Insights.
Continue reading “Q4 Off to a Good Start – NY Beats out Massachusetts Again?” »
