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Originally published Wednesday, April 16, 2014 at 9:00 PM

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Venture investments show a sizable jump in first quarter

Fledgling companies in the state rake in more than $114 million, led by those in the information technology sector. Even with the increase, the quarter actually saw fewer deals than the previous year.


Seattle Times business reporter

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Venture capitalists invested $114.4 million in Washington state companies in the first quarter of this year, an almost 36 percent increase from $84.4 million in the same quarter last year, according to the Dow Jones VentureSource report being released Thursday.

The state had 23 deals this quarter — down from last year’s 35 — captured mostly by start-ups in the information technology sector, with eight deals. IT was followed by the business and financial services sector at five deals and consumer services with four .

Washington’s IT sector also claimed the largest amount of investment dollars, with $32.5 million. Consumer goods weren’t far behind at roughly $30 million, followed by the business and financial services sector at roughly $28 million.

According to the Dow Jones report, Seattle-based Julep Beauty received the largest investment, with $30 million in third round funding.

Nationally, venture capitalists invested $10.7 billion in U.S. companies, a 43 percent increase from nearly $7.5 billion in the first quarter last year.

The U.S. had a total of 862 deals this quarter, a 3 percent decrease in the number of deals made in the first quarter of 2013.

The IT sector also led venture capital investments in the U.S. with roughly $3.4 billion, followed by $2.6 billion in the business and financial services sector.

Coral Garnick: 206-464-2422 or cgarnick@seattletimes.com. On Twitter @coralgarnick



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