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Bay Area Remains Dominant VC Market During Third Quarter

Authored by Mark Hefflinger on October 23, 2006 - 1:50pm.
San Francisco - The San Francisco Bay area remained the dominant market for venture capital investing during the third quarter, according to new figures released by Dow Jones VentureOne and Ernst & Young. The area saw 207 VC deals worth a total of $2.45 billion during the period, a decline in the number of deals from a year ago but an 8% increase in capital.

The local scene mimicked a national trend, which saw venture capital investing outpace the previous year's activity for the third straight quarter. All told, there were 611 deals worth $6.36 billion, increases of 2% and 5% over the same period a year ago.

"This is the first time since 2001 that we have seen three consecutive quarters in which investments exceeded $6 billion, " said Joseph Muscat, the Americas director of the Ernst & Young Venture Capital Advisory Group. "Factors contributing to this trend include an improved liquidity environment based on the robust merger and acquisition market and the positive reaction of the capital markets to recent technology IPOs." Some of the largest local VC rounds went to Cortina Systems ($132 million) and MobiTV ($70 million).

Related Links:
http://biz.yahoo.com/iw/061023/0175199.html
http://www.ventureone.com
tags: Deals | VC | Tech | Metrics | Bay Area | VentureOne |



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