Monday, October 4, 2010
Q3 Venture Investments For SoCal Total Around $1.0 Billion
Southern California venture totals for Q3 totaled around $1.0 billion in investments, according to the Q3 analysis of venture capital deals by socalTECH.com. According to an analysis of socalTECH's proprietary database of venture capital deals, venture investors invested slightly more than the $966M in Q3 of 2009, but less than the $1.6 billion invested in Q2. Q3 has traditionally been a slower, venture funding quarter in Southern California, due to summer vacations and a slower work schedule for both high tech companies and venture firms during the summer months.
The largest deal in the quarter was for Dun & Bradstreet Credibility Corp., based in Malibu, which secured around $100M in funding to acquired the North American Credit-on-Self division of D&B in July. Other big deals included $60M in investment in San Diego's Skinit, a developer of personalized "skins" for electronic devices, and $37.0M for Row 44, the Westlake Village-based developer of wireless equipment for commercial airlines.
The most active venture capital investors in Southern California Firms in Q3 were the Tech Coast Angels [Profile] (3 deals), followed by Benchmark Capital [Profile] , RiverVest Venture Partners [Profile] , Domain Associates [Profile] , the Pasadena Angels [Profile] , Miramar Venture Partners [Profile] , and Frontera Capital [Profile] , all with 2 deals each.
In terms of industries, Biopharmaceutical investments led the quarter with around $260.4M in investments, followed by Retail Products, at $140M, and Software, at $77.8M. Interestingly enough, that area of perpetual interest for the Los Angeles area--Content and Media--only garnered $10.68M in funding during the quarter.
socalTECH maintains its own, subscription database of venture capital deals for Southern California, including both announced and unannounced (stealth) funding, garnered from announcements from companies, third party reports, regulatory filings, reports from subscribers and others, along with other sources. PricewaterhouseCoopers/National Venture Capital Association, and VentureOne will release their quarterly nationwide results of venture activity later this month. Numbers from those firms usually differs--sometimes drastically--due to sources of information, timing of funding events, and classification of data. socalTECH.com's data also includes a number of partially complete rounds, exposed via regulatory filings and not yet announced.