Nationally, venture capital funding is down in 2015, although investments are up in Washington state where the first quarter was the best one since before the Great Recession. San Diego also posted an investment increase of $100 million year over year.
Jeff Grabow, U.S. venture-capital leader at global accounting and consulting firm Ernst & Young, said in the Seattle Times that Washington has created a good ecosystem of talent, money and advisers through companies having successful initial public offerings, which in turn brings in more venture-capital funding. Seattle cancer-immunotherapy company Juno Therapeutics raised hundreds of millions in 2014 and went public on Dec. 19, 2014, raising $264.5 million.
“It creates an ecosystem of people who have been through it, who like to build things, and they go on and do other things,” Grabow said. “Capital flows to that. … If there is no ability to innovate, there is no need for venture capital.”
Read the full articles:
Rise of late stage VC investment shows in Q1 numbers (San Diego Daily Transcript)
Robust VC funding in state reaches pre-recession levels (Seattle Times)
More articles about VC deals:
Tech companies continue to land mega VC deals (San Jose Mercury News)
San Diego start-ups net more venture capital (San Diego Union Tribune)