Washington no longer in the top 10 for venture capital investing |
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Washington no longer in the top 10 for venture capital investing
PwC/NVCA MoneyTree Report
Just how bad was the fourth quarter venture capital tally for Washington state? Consider this: The state, which typically ranks fourth or fifth in venture dollars, didn't even crack the top 10 last quarter. As I pointed out earlier, venture investments fell to the lowest level in more than a decade in the state as investors drastically pulled back.
However, it wasn't all bad news. The state still ranked fifth in number of deals, with 35 during the quarter. That means venture investors are still putting money to work, though in many cases it is small rounds in pre-existing companies or bets on early-stage companies that may not mature for three or four years. And Washington, which recorded $955 million for the year, still exceeded states such as Colorado and North Carolina on an annual basis.
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