Wednesday, January 28, 2004
VC Report Shows Southern California Drop
The latest VentureOne/Ernst & Young Venture Capital Report shows a drop in venture capital activity in Southern California, despite a modest growth in the overall market. According to figures provided from the report for Southern California, the number of overall deals in the Los Angeles - Orange County - San Diego area dropped from 47 deals in Q3 to 39 deals in Q4. Dollar value of investments in the area went from $449M to $348M. Los Angeles saw the steepest drop in investments, but Orange County actually saw an increase in the amount of money invested during the quarter. Not surprisingly, San Diego saw the greatest amount of dollars invested last quarter, the bulk of the activity in the health/biotech area.