Wednesday, October 1, 2008
Pacific Northwest Firms Raise $324M In Funding In Q3
Northwest Innovation has totaled up the venture funding for Q3, and found that approximately $324.0M was invested in Pacific Northwest firms this quarter. According to the numbers, the amount is approximately on par with investments in Q2 of 2008, when around $357M was invested in Washington and Oregon, and down slightly from last year, when $403.6M was invested in the region.
The numbers were derived by Northwest Innovation from venture deals reported by companies, in news, disclosed in regulatory filings, and otherwise publicly reported.
The biggest deal for the quarter was Big Fish Games, which raised $83.3M earlier this month; other large deals were for Light Sciences Oncology, which raised $40.1M, MOD Systems, with $35.0M, followed by RadioFrame Networks, with $28.0M.
The most active investors in the region in Q3 were Intel Capital, OVP Venture Partners, General Catalyst Partners, and Ignition Partners, all with two deals each.
Northwest Innovation tracks day-to-day venture capital activity in the Pacific Northwest region, 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 may 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 VentureOne will release their quarterly nationwide results of venture activity later this month.