Tuesday, April 3, 2007

Pacific Northwest Sees $483.95M In Q1 2007 Deals

The Pacific Northwest saw a healthy $483.95M in venture capital deals in Q1 of this year, according to an analysis of the Northwest Innovation venture database. The quarterly totals were buoyed by $113M in equity invested in biodiesel developer Imperium Renewables in Seattle, from venture firms Technology Partners and Nth Power along with others. Other large deals for the quarter included a $63M investment in Seattle-based Omeros in February, $42.2M in a venture round in January from Seattle's Calypso Medical Technologies; $36M that went to Bothell's Dexterra; and Seattle's Spaltudaq, which recently raised $29M.

The most active venture firm in the quarter was Ignition Partners with 3 deals disclosed, with a large number of other local firms with two deals each.

Northwest Innovation tracks day-to-day venture capital activity in the Pacific Northwest, and uses venture data disclosed by companies announcing funding; self-reported by both technology companies and venture firms; as well as regulatory filings and other sources. The totals reported will differ from other venture capital surveys, due to sources of information, timing of funding events, and classification of data. PricewaterhouseCoopers/National Venture Capital Association, and Ernst & Young/VentureOne will release their quarterly nationwide results of venture activity later this month.

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