Weekly Venture Capital Activity Week March 21, 2005 through March 27, 2005
(PRWEB) March 30, 2005
http://www.capitalHunter.com was able to verify that $ 245 million of venture capital was invested in 25 U.S.-based companies during this weeks reporting period. The average deal size was approximately $ 9.80 million. The amount of venture capital invested this period decreased by 22% compared to last periods $ 315 million.
Geographically,10 California companies raised $ 118.20 million in venture financings which represents 48% of the total venture capital invested this reporting period. The largest private venture financing in California this period was into TelASIC Communications. TelASIC Communications raised $ 26 million and is El Segundo based and is a developer of high-performance analog and mixed-signal integrated circuits (ICs) and sub-systems for the 3G wireless infrastructure market.
The software sector raised 33% of the venture capital this period. Eleven software companies raised $ 81.35 million in venture financing. The largest private venture financing in the software sector this period was into Encentuate. Encentuate raised $ 16 million and is a Foster City, CA based company that provides enterprise access security solutions for businesses.
Companies raising their Series B round of financing led this weeks venture capital activity. Series B financings represented 53% of the total venture capital deployed this period. The largest private venture financing in Series B stage financing this period was into Sequoia Pharmaceuticals. Sequoia Pharmaceuticals raised $ 22 million and is Gaithersburg, MD based that is a pharmaceutical company focused on discovering novel drugs to combat drug-resistant viral infections, especially HIV/AIDS and hepatitis C.
The three largest venture deals this period are as follows: 1 TelASIC Communications, Semiconductor $ 26 million 2 Sequoia Pharmaceuticals, Biotechnology, $ 22 million 3 Teneros, Network & Equipment, $ 17.5 million
The following twelve and other unnamed investors funded the above mentioned top three venture capital investments for $ 65.5 Million: Aberdare Ventures, Agilent Technologies, ComVentures, Health Care Ventures, Mission Ventures, New Enterprise Associates, Redpoint Ventures, Sevin Rosen Funds, Sofinnova Partners, Star Ventures, The IPO Group, Wellcome Trust
A total of 69 equity financings of private and public companies occurred during this reporting period. Each of the 69 equity financings are profiled in a weekly report which include venture financings, private placements, secondary offerings, PIPEs, and IPOs.
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