Monday, April 22, 2013
Rocky Mountain Region Racks Up $180.6M In Venture Capital In Q1
The local region piled up $180.6M in venture capital during Q1, according to numbers released over the weekend by PricewaterhouseCoopers and the National Venture Capital Association, in its quarterly MoneyTree venture capital report. According to the report, Colorado led the region in terms of both the number of deals and dollars invested, with 17 deals totaling nearly $79.0M. Utah was second, with 10 deals totaling $85.9M; New Mexico had 9 deals worth $11.28M total, and Arizona had $4.5M across three deals. Venture capital in the region was actually down from both Q4 of 2012 (when there were 46 deals and $390.5M invested in the region), as well as Q1 of 2012 a year ago (when 45 deals totaling $232.63M were invested in the area).
The big drop for the region came primarily due to a very sharp dropoff in investment dollars in Arizona, which saw $131.25M invested last quarter but only $4.5M invested in Q1 of 2013. The state's venture capital investment numbers are no stranger to on-again, off-again investments, often reporting only one venture investment a quarter.
Among the area's investments, one company, showed up as one of the largest in the nation: Domo, the startup led by former Omniture founder Josh James, which raised $60.0M in a Series C funding during the quarter.
Nationally, there was $5.9 billion invested in 863 deals in the first quarter of 2013, according to the report, a drop of 12 percent in dollars and 15 percent in deals from the prior quarter. That quarter had $6.7 billion invested across 1,013 deals.Image courtesy Bigstock