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
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 firstname.lastname@example.org. On Twitter @coralgarnick