Colorado sixth for VC investments during Q2
Written on July 20, 2008
Colorado ranked sixth in the nation for an infusion of venture capital investments during the second quarter, according to a new report.
The MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association, based on data from Thomson Reuters, shows Colorado companies collected 2.5 percent of the nearly $7.4 billion invested across the country.
Colorado’s ranking trails California, at 52.89 percent; Massachusetts, at 9.46 percent; New York, at 3.98 percent; Washington, at 3.77 percent; and Texas, at 3.48 percent.
Colorado accounted for 26 deals amounting to $184.4 million in the second quarter, up by $14 million from a year earlier but down from $311 million in the first quarter of 2008. The first-quarter figure was buoyed by a $130 million investment in Range Fuels Inc., a biotech company based in Broomfield.
Nationally, venture capitalists invested in 990 deals in the second quarter, but the $7.4 billion involved was largely flat from the $7.5 billion sunk into 977 deals in the first quarter.
The largest deals in Colorado in the second quarter:
- AVA Solar Inc freecreditreport. of Fort Collins, $41 million
- Range Fuels, $28.2 million
- ZettaCore Inc. of Englewood, $18 million
- IP Commerce Inc. of Denver, $17.5 million
- Rally Software Development Corp. of Bouler, $16.9 million
- Vmedia Research Inc. of Boulder, $10.6 million
- Pharmaca Integrative Pharmacy In. of Boulder, $10.1 million
Venture capitalists invested more in later-stage and companies in an expansion phase than they did in companies that were in early-stage or in startup mode. Software companies attracted the largest VC investments, at $39.6 million or 21 percent of the Colorado deals, compared to $24.9 million or 9 percent in the first quarter.