the quarter, it marked a 41 percent increase over the $146 million that VCs invested in the Evergreen state during the previous quarter. CB Insights notes that Washington was the only major VC recipient to register an increase in funding.
California retained its title as the Golden State for venture capital, with $2.86 billion invested in 309 companies during the first quarter. Funding dipped by 26 percent. While the number of deals remained comparable to previous quarters, the amount of capital invested was a 26 percent decline from the $3.8 billion invested in the previous quarter and a 27 percent decline in the $3.9 billion VCs invested in the year-ago quarter.
Massachusetts and New York continued their close competition for runner-up. VCs invested $650 million in Massachusetts companies, which accounted for 11 percent of all dollars invested, and placed Massachusetts ahead of New York, where VCs invested $333 million. But CB Insights counted 81 deals in New York and 76 in Massachusetts. The Bay State’s gap versus New York seems to worsen in tech, although CB Insights notes that Massachusetts has a more balanced portfolio of investments in healthcare and cleantech.
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Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
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