Texas Companies Raise Nearly $388.5M In VC In Q1

Texas companies raised $388.47M in venture capital funding in Q1 of the year, according to numbers released this evening by PricewaterhouseCoopers and the National Venture Capital Association (NVCA), based on data from Thomson Reuters. According to the latest MoneyTree report, the funding came across 41 deals in the state, and was up both in dollars and deals from Q4. In Q4, Texas companies raised $325.3M across 34 deals. The modest rise in funding came despite an overall drop in venture capital investments nationally.

Nationally, venture capitalists invested $5.8 billion in 758 deals in the first quarter of 2012, a 19 percent drop in dollars and 15 percent in number of deals from Q4 of 2011, when $7.1 billion was invested in 889 deals.