NC startups raise $337M in Q2, lowest total in 3 years, but …
Led by 10 deals made in the Triangle, startups raised more than $337 million in the second quarter, the lowest total in three years, according to a new report from Dow Jones VemtureSource. But there are caveats.
To keep things in perspective, 2018 and 2017 represented two of the best deal-making years dating back to the “dot com” boom. And, some NC deals reported in the media are not included in the report.
Deals made also totaled 19, which is second to 2018’s 26 investments but higher than the 16 made in 2017.
Nationally, entrepreneurs raised nearly $32 billion, the fourth highest quarter on record, Dow Jones VentureSource reported.
The investment pace in North Carolina is not quite as hot. So far in 2019, NC startups and emerging entrepreneurial companies have landed $447.4 million in cash, which tops the $430 million totaled in 2017 but is behind 2018’s first six-month total of $470 million.
However, the Dow Jones VentureSource data does not include several reported deals in NC, such as:
The various venture capital reports, such as from Pitchbook, often cite different figures for deal-making based upon the organization’s criteria.
- EXCLUSIVE: Investors Scot Wingo and David Gardner share their views about the report and the state of the NC startup market with our TechWire LinkedIn followers.
Due in large part to the NC-record $1.25 billion raised last fall by Cary-based Epic Games, North Carolina entrepreneurs are well behind the $2.6 billion in deals which is the state’s all-time total.
Across the southeast in 2Q 2019, investors made 94 deals worth $1.8 billion.
[Originally posted by WRALTechWire — July 8, 2019]