Monday, April 20, 2009
Texas Firms Raise Less Funding In Q1
Two reports on the venture capital industry were released over the weekend, both finding that venture capital dropped in the state for Q1. Dow Jones VentureSource tallied nearly $173 million in 23 deals, with PricewaterhouseCoopers/NVCA reporting that companies in the state raised only $156.1M in the first quarter. The local venture results reflected a similar overall drop nationwide, as venture capital investments hit a twelve year low. PricewaterhouseCoopers/NVCA said that nationally, there was $3.0 billion invested in 549 deals nationally, the lowest level since 1997. Dow Jones VentureSource said national deals totaled $3.90 billion across 477 deals.