O.C. venture investing soars 117% in Q2

The OC Register
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Venture capital investments in Orange County companies rose 117% to $234.4 million in the second quarter compared to a year ago, according to Dow Jones VentureSource.
It’s the second upbeat report on equity investing this week, and is good news for young, high-growth companies after two years of struggle.
PricewaterhouseCoopers and the National Venture Capital Association said Orange County investment reached $279 million, up 206% from a year earlier.
The two reports have different methodologies but show the same upward trend.
Nationally, VentureSource reports 744 investments totaling $7.7 billion in the second quarter. This is the highest quarterly total for capital invested since the third quarter of 2008.
“Overall, Q2 for venture funding was pretty good,” said Kim Letch, venture capital expert in the Irvine office of accounting giant Ernst & Young. “Everyone was asking the question, ‘Is VC funding in Orange County done? But $234 million is pretty good.”