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Southern California Tech Companies Raise $709.8M In Q3




Southern California technology companies raised $709.8M in venture capital in Q3, according to the latest numbers from the MoneyTree Report from PricewaterhouseCoopers LLP and the National Venture Capital Association, based on data From Thomson Reuters. The amount raised in the region was up from Q2, when $627.4M was raised in the area, and slightly lower than Q3 of 2012, when $724.9M was raised in venture capital.

Los Angeles led the region in investments, with $348.6M in investments; San Diego followed, with $205.2M in venture capital raised in Q3; Orange County had $155.96M in investments for the quarter. The industry with the largest amount of investment was in Software, with $229.6M in investments; followed by nearly $105M in Biotechnology investments; Medical devices were third with $100.7M in investment.

The biggest investment in the region for the quarter was in Telogis, the Aliso Viejo-based which pulled in $76.7M in funding for its location-based intelligence software. Other big rounds included $54.0M for Santa Monica-based EdgeCast, $45.9M for San Diego-based Otonomy, and $39.7M for Lake Forest-based ReVision Optics.

The most active local investors for the quarter were the Tech Coast Angels, with 12 investments in the quarter; Correlation Ventures, with 10 investments; and Upfront Ventures, which made 9 investments.

Nationally, total venture capital investments totaled $7.8 billion, in 1005 deals. The amount of venture capital investment was up 12 percent in terms of dollars, and 5 percent in number of deals compared to the second quarter of 2013.

Image courtesy Bigstock.


 

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