Thursday, July 15, 2010

Texas Venture Capital Totals $188.7M In Q2

PricewaterhouseCoopers and the National Venture Capital Association (NVCA) have released their quarterly venture capital numbers for Q2, reporting that venture deals in Texas totaled $188.7M for the quarter. The numbers were up significantly form Q2 of last year, when only $73.57M in deals was tallied in the state. Nationally, venture deals in the U.S. hit $6.5 billion. According to the two, using data provided by Thomson Reuters, quarterly investment activity nationwide was up by 34 percent in terms of dollars, and up 22 percent in terms of deals, compared with Q2 of last year. Among the strongest industries for funding were Clean Technology--which doubled in dollars invested in Q1--and Life Sciences, which jumped 52 percent in terms of dollars funded. The up quarter was welcome news in an industry which was battered by the economy last year. The PwC and NVCA noted that this was the strongest quarter since 3rd quarter of 2008 in terms of venture deals. The Q2 investments bring the total venture capital invested in Texas tallied by the PwC/NVCA report to $346.8M for the year.