San Diego’s Q1 Venture Activity Surges on One Mega Deal
Bruce V. Bigelow4/20/12Follow @bvbigelow
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14 percent drop in terms of dollars and a 5.4 percent decline in the number of deals compared to first quarter of 2011 when $6.7 billion was invested in 801 deals.
In a statement today, NVCA President Mark Heesen says, “The overall decline in investment in the first quarter underlies several shifts occurring in the venture space. The industry continues to contract and consolidate which is beginning to manifest itself in fewer dollars being invested in fewer deals.”
Dow Jones VentureSource said companies based throughout the United States raised $6.3 billion through 717 venture capital deals during the first quarter of 2012. That’s an 18 percent decline in capital and a 9 percent decline in deals from the same period last year.
Based on data in the MoneyTree report, San Diego’s 10 biggest first-quarter VC deals were:
Sapphire Energy, $140 million
Celladon, $42.2 million
Aragon Pharmaceuticals, $37.7 million
Applied Proteomics, $22.5 million
Allylix, $18.2 million
SkinMedica, $16.7 million
HemaQuest Pharmaceuticals, $13 million
Genalyte, $11.8 million
PhotoThera, $11.24 million
MOGL, $10 million
Based on data from Dow Jones VentureSource, the top San Diego deals were:
Sapphire Energy, $144 million
Celladon, $43 million
Aragon Pharmaceuticals, $42 million
Luxtera, $21.7 million
Allylix, $18.2 million
Genalyte, $11.8 million
