Significant Venture Funding in Austin During Q4
On Friday afternoon, PricewaterhouseCoopers, the National Venture Capital Association and Thomson Financial released data showing that venture funding across the US was up, with 963 companies raising over $7 billion in the fourth quarter. Most interestingly, out of the top 10 deals in 2007, only 3 were in California (local company Heliovolt raised either the 4th or 6th largest amount depending if you include its follow-on round).
Austin also had a significant quarter, with 23 companies raising over $258 million. You’d have to go back to 2001 to see a similar amount raised in one quarter in Austin (yes, this is the second quarter in a row where we have said this!). Not surprisingly, bio tech lead the way, good news for Sante Ventures, PTV Sciences and ETI. The top 5 local deals for the period were: Rules Based Medicine raising $25 million, Heliovolt closing an additional $24 million, LabNow raising $20 million, Asurgen closing $18.5 million and Spinal Restoration landing $16 million in venture funding.
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