data provided by Thomson Reuters. The results of the latest MoneyTree survey are in line with results that Xconomy’s Curt Woodward highlighted in last week’s report from CB Insights.
Some other highlights from the MoneyTree Report:
—Dollars invested in expansion-stage rounds rose 34 percent in the first quarter, with $3.9 billion going into 274 deals.
—The average expansion-stage deal was $14.3 million, and most of the Top 10 deals of the quarter (listed below) were expansion rounds in software, IT, or Web-based consumer products. That included a $325 million, fourth-round investment in San Francisco-based Dropbox; a $200 million, seventh-round investment in San Francisco-based AirBnB; and a $200 million, fourth-round investment in Mountain View, CA-based Tangome. Only one of the 10 biggest deals—a $100 million investment in the Palo Alto, CA-based software developer Hortonworks—was designated as an early stage deal.
—In contrast, investments in seed-stage companies plunged by 64 percent, from nearly $347 million in the prior quarter to $124.8 million. The number of seed-stage deals fell by 41 percent, from 69 in the fourth quarter of 2013 to 41 in the first quarter of this year.
—Venture investments in biotech startups during the quarter represented the second-biggest category (behind software), with $1.1 billion going into 112 deals. Still, it was a 23 percent decline from
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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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