Austin Q1 VC investments surge

Apr 17, 2014
Austin Business Journal

Investments in Austin-area venture-backed companies increased 163 percent during the first quarter, rising sharply to $213.8 million compared with $81.7 million during the same period last year


Although deal volume was the exact same as the year-earlier period, 18 investments each, the median funding round amount surged from $3.8 million during the first quarter 2013 to $4.8 million this year, according to Dow Jones VentureSource


Technology companies accounted for $99 million of the total $213.8 million raised by Austin companies during the quarter


Among the largest local financings was Spiceworks Inc., which raised $57.6 million in February; SolarBridge Technologies Inc., which raised $42 million, and Surveying and Mapping LLC, which brought in $36.7 million, the report shows


Austin Ventures LP, which completed five local investments during the quarter, was the most active investor in Austin-area companies followed by Maryland-based New Enterprise Associates, which completed two investments, the report shows


During 2013, venture-backed Austin companies raised $541.9 million compared with $698.5 million during 2012, Dow Jones reported


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