14 percent drop in terms of dollars and a 5.4 percent decline in the number of deals compared to first quarter of 2011 when $6.7 billion was invested in 801 deals.
In a statement today, NVCA President Mark Heesen says, “The overall decline in investment in the first quarter underlies several shifts occurring in the venture space. The industry continues to contract and consolidate which is beginning to manifest itself in fewer dollars being invested in fewer deals.”
Dow Jones VentureSource said companies based throughout the United States raised $6.3 billion through 717 venture capital deals during the first quarter of 2012. That’s an 18 percent decline in capital and a 9 percent decline in deals from the same period last year.
Based on data in the MoneyTree report, San Diego’s 10 biggest first-quarter VC deals were:
Sapphire Energy, $140 million
Celladon, $42.2 million
Aragon Pharmaceuticals, $37.7 million
Applied Proteomics, $22.5 million
Allylix, $18.2 million
SkinMedica, $16.7 million
HemaQuest Pharmaceuticals, $13 million
Genalyte, $11.8 million
PhotoThera, $11.24 million
MOGL, $10 million
Based on data from Dow Jones VentureSource, the top San Diego deals were:
Sapphire Energy, $144 million
Celladon, $43 million
Aragon Pharmaceuticals, $42 million
Luxtera, $21.7 million
Allylix, $18.2 million
Genalyte, $11.8 million
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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