MoneyTree Report: Colorado VC funding up in Q2
Tuesday, July 21, 2009
MoneyTree Report: Colorado VC funding up in Q2 - Denver Business Journal
Venture capitalists invested $211 million in Colorado companies during the second quarter of the year, according to the latest MoneyTree Report, the second upbeat accounting of VC funding in the state in the last few days.
"Venture capital activity in the second quarter of 2009 for Colorado companies is at levels of funding similar to the best quarters of 2007 and 2008,” said Bob Puls, partner at PricewaterhouseCoopers in Denver, in a statement.
The quarterly report -- released at 10 p.m. MDT Monday -- is published by PricewaterhouseCoopers and the National Venture Capital Association (NVCA), based on data from Thomson Reuters.
A separate report released Saturday by Dow Jones VentureSource, using somewhat different criteria, said 14 Colorado-based companies attracted nearly $296 million in venture capital funding during the second quarter, more than at any time since at least 2003.
The MoneyTree Report said Colorado's second-quarter results were largely driven by the $146.1 million raised by Clovis Oncology Inc., a Boulder biotechnology company. The deal represented the largest venture capital financing in the nation during the second quarter, according to MoneyTree data. (The Dow Jones VentureSource report rated that transaction No. 2, after a $200 million investment in Palo Alto, Calif.-based online social network Facebook.)