Please do not leave this page until complete. This can take a few moments.
Funding to venture capital-backed companies in the United States rose to its highest level in a year, though Maine only had one deal, according to the second-quarter figures released today in the MoneyTree Report from PricewaterhouseCoopers LLP and CB Insights.
“There was $18.4 billion invested in 1,152 deals,” PwC partner Greg Vlahos told Mainebiz in a phone interview. That’s up 27% in value but down 4% in the number of deals.
As in previous quarters, deals were driven by multi-million-dollar mega deals. Of the Top 25 investments by dollar, 14 were in California, primarily in the San Francisco area and Silicon Valley. Vlahos said of the $18.4 billion, 31 deals topped $100 million.
New England was lower than average for the quarter with $1.4 billion invested versus a high of $2.2 billion in the second quarter of 2015. The average deal size in New England in this year’s second quarter was $13.3 million, which Vlahos said means a lot of large money still is going into deals in the region.
While seed-stage investments were 22% of the total, an eight-quarter low, there’s good news in that money still is going toward those small companies, Vlahos said.
The only deal listed in Maine in the quarter was $250,000 invested in NBT Solutions, a Portland information technology and geographic information system company.
The company in late June tried to raise $1 million in equity, but the methodology used by PwC only counts a certain type of venture capitalist in the $250,000 it listed for the company, said John Burns, managing director of the Maine Venture Fund in Newport.
“We led the round, but PwC doesn’t include us in their numbers,” he said. Other investors were CEI, Bangor Angels and Maine Angels. He said the $250,000 likely represents CEI’s investment, as CEI Ventures is a for-profit company.
“We closed the round in early June with $800,000,” Burns said. NBT is trying to raise the remaining $200,000 until December, he said.
MVF has done well with a record number of exits in its fiscal year ended June 30. The four companies from which it closed its investment are Coast of Maine Organic Products, InterSpec, Look’s Gourmet Food and most recently Certify. MVF invested $500,000 in Certify in two funding rounds, and got more than a five times return on investment, Burns told Mainebiz at the time.
PwC’s Vlahos also said initial public offerings are slowly increasing, with 16 in the second quarter compared to 12 in the first quarter. Mergers and acquisitions were down to 124 nationwide from 39 in the first quarter of this year.
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn MoreWork for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn MoreFew people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
Comments