second-biggest sector (after the Internet) for both venture deals and dollars, eclipsing venture activity in both healthcare and software.
In an e-mail, Sanwal tells me that 17 corporate venture arms were active during the quarter. Google Ventures invested in nine mobile startups, Verizon Ventures funded four, and four corporate venture funds (Samsung Ventures, Bertelsmann Digital Media Investments, Liberty Global Ventures, and Steamboat Ventures) each invested in two startups.
The surge in venture-backed IPOs remained strong. CB Insights counted 23 IPOs during the quarter, with a cumulative valuation of more than $11.8 billion. It was the second consecutive quarter with more than 20 VC-backed IPOs, and represented a 130 percent increase over the 10 IPOs in the same quarter of 2012, and an 81 percent increase over the $6.5 billion in total valuation.
While healthcare-related IPOs continued their breakout run—CB Insights counted 13 in the third quarter and 11 in the second quarter—the firm says tech companies accounted for four of the five biggest VC-backed IPOs, led by FireEye, the Milpitas, CA-based cybersecurity software company.
The proliferation of venture-backed healthcare IPOs, however, was no indication of VC activity in the healthcare sector. CB Insights found
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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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