Tilson Technology only Maine venture deal in Q3
Tilson Technology Management Inc., a Portland-based provider of telecommunications services, was the only Maine company to raise venture capital in the third quarter, pulling in $250,000 in a later stage deal, according to a report released Friday.
By comparison, in the second quarter, Maine’s venture capital deals more than doubled in value and deal numbers over the same quarter last year, though the funding amounts and deal numbers still are small compared to total U.S. figures.
Nationally, venture capitalists invested $9.9 billion in 1,023 deals in the third quarter, down 27% in dollars and 9% in the number of deals from the second quarter, according to the MoneyTree Report from PricewaterhouseCoopers LLP and the National Venture Capital Association using data from Thomson Reuters. However, with more than $33 billion invested through the first three quarters, total venture investing in 2014 already has eclipsed the $30 billion for all of 2013.
New England as a whole saw $652 million invested in 115 deals in the third quarter, and a total of $2.9 billion in 436 deals for the first three quarters of 2014.
“Driven by a strong IPO (initial public offering) market for venture-backed companies and the rise of startups in every region across the country, we continue to see a greater number of new players joining the venture capital game,” Bobby Franklin, president and CEO of the NVCA said in a prepared statement. Franklin also cited the emergence of non-traditional investors like hedge funds and mutual funds as contributors to the increased venture investing this year.
The new numbers come on the heels of Maine Angels closing on 14 deals during this year’s second quarter, making it one of the country’s most active angel investment groups, according to the Halo Report. Three of the Maine Angels deals were follow-on investments for Maine startups, including Westbrook-based Pika Energy, Portland-based biotech company Abogen and Portland-based education software provider Academic Merit.
Read more
Venture capital investments in Maine up for Q2
Maine Angels one of most active US groups
Most Recent
Most Recent
Comments