Venture Capital: Growing in the Northwest

Posted by Sam Churchill on

Venture capitalists are pumping more money into early-stage companies, reports Geek Wire. According to the MoneyTree report from PricewaterhouseCoopers and the National Venture Capital Association, venture capitalists invested $2.1 billion in 410 early-stage deals, the biggest total since the first quarter of 2001.

In total, venture capitalists invested $7 billion in 898 deals during the quarter, a 17 percent increase in dollars and an 11 percent increase in deals when compared to the first quarter. The numbers, however, were down on a year-to-year comparison. Last year during the second quarter, $8 billion was invested in 1,057 deals.

A report earlier this week from CB Insights found that 32 companies in Washington state raised $312 million, more than doubling the total of the second quarter last year.

Venture capital investment in Oregon startups has slowed dramatically this year; the second quarter was the state’s weakest for attracting funds since 2009.

Oregon entrepreneurs raised only $8.6 million in venture backing during the quarter, according to data from the National Venture Capital Association. Through the first six months of the year, venture capitalists invested just $48.4 million in the state.

A new generation of startups is growing fast, but has yet to become a major economic engine, according to The Oregonian. Among the resources available include:

The Portland Incubator Experiment fielded 300 applications for its second class of startups, reports the Oregonian. PIE’s new class will work with sponsors from Google and Coca-Cola, with additional input from Nike and Intel.

PIE has helped host, accelerate, and mentor a number of successful startups:

The Portland Seed Fund invests in ‘classes’ of 6-8 entrepreneurs at a time, starts them with an initial $25,000 investment, and see what they do in 90 days. Cloudability raised $8.7 million in funding.

Portland’s Startup Weekend, is an intense 54 hour event which focuses on building a web or mobile application which could form the basis of a credible business. The video above followed two aspiring entrepreneurs through an event held this April. You can Meet the Startup on YouTube.

Silicon Florist covers the Oregon startup scene.

Posted by Sam Churchill on Friday, July 20th, 2012 at 11:52 am .

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