Top First Quarter New England Venture Investments

4/23/08Follow @bbuderi

Updated: It wasn’t a pretty quarter—Q1 2008, that is—for venture deals, particularly in New England. But the 11 area firms listed below didn’t seem to be complaining, as all received venture investments of $10 million or more.

Topping the diverse list is Boston’s Mascoma, which is researching genetically engineered bacteria that speed up the conversion of cellulosic biomass such as wood chips into ethanol. Next comes Reveal Imaging Technologies, a Bedford, MA-based maker of explosives detection devices. Lowell, MA, virtualization firm Virtual Iron, and Cambridge, MA-based Vlingo tied for third, each taking in a very real $20 million. Behind them was EyeGate Pharma, which has seen its way to developing a device to deliver drugs to the, you guessed it, eye. A bit farther down, MIT solar energy spinoff 1366 Technologies, of Lexington, MA, was beaming from its $12.4 million infusion.

Here is the list of the region’s (all from Massachusetts) top venture investments for the opening three months of 2008—and the venture firms that made them.

Mascoma, Boston, MA — $44.9 million (Note: not part of the VentureSource list; first reported in PE Hub and confirmed by Xconomy)**
Investors: Atlas Venture, General Catalyst Partners, Flagship Ventures, Khosla Ventures, Kleiner Perkins Caufield & Byers, Pinnacle Ventures, VantagePoint Venture Partners

Reveal Imaging Technologies, Bedford, MA — $20.3 million
Investors: Brown Brothers Harriman & Co.*, Flybridge Capital Partners, Greylock Partners

Virtual Iron Software, Lowell, MA — $20 million
Investors: Goldman Sachs Ventures, Highland Capital Partners, Intel Capital, Matrix Partners, SAP Ventures

Vlingo, Cambridge, MA — $20 million
Investors: Charles River Ventures, Sigma Partners, Yahoo*

EyeGate Pharma, Waltham, MA — $15 million
Investors: Innoven Partenaires, New England Partners, Nexus Group, Ventech

Tryton Medical, Newton, MA — $14 million
Investors: PTV Sciences, RiverVest Venture Partners, Spray Venture Partners

1366 Technologies, Lexington, MA — $12.4 million
Investors: Individual Investors, North Bridge Venture Partners*, Polaris Venture Partners*

NoblePeak Vision, Wakefield, MA — $12 million
Investors: Chart Venture Partners*, Matrix Partners, North Bridge Venture Partners

Aveksa, Waltham, MA — $12 million
Investors: Charles River Ventures, FTVentures*, Pequot Ventures

Codon Devices, Cambridge, MA — $12 million
Investors: Alloy Ventures, Flagship Ventures, Highland Capital Partners, Khosla Ventures, Kleiner Perkins Caufield & Byers, Tactics II Investments

Liquid Machines, Waltham, MA — $10 million
Investors: Atlas Venture, Draper Fisher Jurvetson, Goldman Sachs Group, Masthead Venture Partners, RRE Ventures*

Source: Dow Jones VentureSource

* Indicates lead investor. If no asterisk, VentureSource has not identified a lead investor.

** Exact amount and some investor data from the recent MoneyTree Report from PricewaterhouseCoopers, the National Venture Capital Association, and Thomson Reuturs

Bob is Xconomy's founder and editor in chief. You can e-mail him at bbuderi@xconomy.com, call him at 617.500.5926. Follow @bbuderi

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