Wednesday, April 12, 2017
MoneyTree: $1.1 Billion In VC Invested In SoCal In Q1
Over $1.1 billion in venture capital dollars were invested in the Southern California region in Q1, according to the latest MoneyTree Report, issued by PricewaterhouseCoopers LLP and CB Insights. The report tallied up $926.4M invested across 71 deals in Q2 of 2017 in LA and Orange County, and $202.37M invested in San Diego for the quarter across 32 deals. Investments in LA/OC were up slightly from the $898.3M invested in Q4, with San Diego also up from $175.73M in Q4. Among the largest investments nationally were two, Southern California companies--Irvine's Alignment Healthcare, which raised $115M in a late stage funding round from Warburg Pincus, and Santa Monica-based Ring, which raised $109M from American Family Insurance, DFJ Growth Fund, Felicis Ventures, Goldman Sachs, Qualcomm Ventures, Richard Branson, Shea Ventures, and True Ventures.
Nationally, investors invested $13.9 billion to US, VC-backed startups in Q1, across 1,104 deals, which was up 15 percent in dollars and 2 percent in deals from Q4 of 2016. PwC noted that LA/Orange County was one of the few major hubs seeing an uptick in both deals and dollars from Q4 2016, versus Silicon Valley, where deal activity "essentially flat" and at an "eight-quarter low".