Thursday, July 9, 2009
Pacific Northwest Deals Total Around $355M In Q2
An analysis of the venture capital deals in Washington and Oregon by Northwest Innovation finds that there was around $355M invested in Q2 of 2009, up significantly from around $131M invested in Q1. The three largest deals for the quarter were for Newpath Networks, which had $30M invested in April, Calistoga Pharmaceuticals, which also raised $30M in a round in May, and for NanoString Technologies, which raised $30M, as well, in a funding round. According to the data, the amount invested in Q2 of 2009 was up significantly from the comparable quarter last year, when there was around $248M invested in the region.
The data came from Northwest Innovation's own proprietary venture capital database, which tracks day-to-day venture capital activity in the Pacific Northwest region, and uses venture data disclosed by companies announcing funding; self-reported by both technology companies and venture firms; as well as regulatory filings and other sources.
The most active venture firms in the quarter all racked up two investments each, and included WRF Capital, Ignition Partners, Madrona Venture Group, OVP Venture Partners, Intel Capital, and Amgen Ventures.
The totals will differ from other venture capital surveys due later this month, due to sources of information, timing of funding events, and classification of data, but should be close in terms of venture deals tracked. PricewaterhouseCoopers/National Venture Capital Association, and VentureOne will release their quarterly nationwide results of venture activity later this month.