RALEIGH … For the first time since 1998, the Southeast will fall short of raising $1 billion in venture capital over the course of a year.
Once North Carolina deal, $1.3 million for biotech startup Tranzyme, pushed what appear to be the year-end totals (barring a deal in the final two days of 2002) to about $989 million inches in 118 deals in the Carolinas and Georgia. That’s down from about $1.3 billion last year.
The Peach State, which sucked wind during the final months of the year after piling up huge numbers early on, still raised the most in the region at $484 million, compared to $475 million in North Carolina. But the Tar Heel State posted more deals on the year: 60 to 54.
Still, this year’s totals rank fourth all-time for the region, trailing the Internet bubble years of 1999 and 2000 as well as last year.
Here’s a look at Local Tech Wire’s exclusive list of the top 80 deals in the region, ranked according to the size of the investment:
Company; Industry; Amount (Round)
1. Movaz Networks, Norcross, Ga.; Telecom; $60 million (3rd)
Investors: Oak Investment Partners (lead), Anschutz Investments, GATX Ventures, Menlo Ventures, Meritech Capital Partners, Silicon Valley BancVentures, Telus Ventures and Worldview Technology Partners
2. Targacept, Winston-Salem, N.C.; Biotech; $46 million (2nd)
Investors: Nomura International Healthcare Private Equity Group (lead), Academy Ventures, Advent Venture Partners, Auriga Ventures, Burrill & Co., CDC-IXIS Innovation, CDIB BioScience Ventures, Easton Hunt Capital Partners, EuclidSR Partners, Genavent Fund, New Enterprise Associates and Société Générale Asset Management Finance
3. Inhibitex, Atlanta; Biotech; $45.4 million (4th)
Investors: Essex Woodlands Health Ventures (co-lead), New Enterprise Associates (co-lead), Alliance Technology Ventures, CDP Sofinov, Pacific Horizon Ventures and William Blair Capital Partners
4. Fleetcor Technologies, Atlanta; IT services; $45 million (2nd)
Investors: Summit Partners
4. Hatteras Networks, Durham; Telecom; $45 million (3rd)
Investors: Grotech Capital Group (lead), Bessemer Venture Partners, Columbia Capital and ComVentures
6. Scynexis, Durham; Pharmaceutical services; $29 million (3rd)
Investors: Alta Partners (lead), Burrill & Co., CDC Innovation Partners, Genavent, KBL Healthcare Ventures, SG Asset Management, SR One and Ventech
7. Pathfire, Roswell, Ga.; Software; $27 million (5th)
Investors: AT&T Ventures, Bank of America Capital Investors, CNN News Group, Halpern Denny & Co., Institutional Venture Partners, Kinetic Ventures, Monarch Capital Partners, Noro-Moseley Partners, Quadrangle Group, Reuters Greenhouse Fund, Riggs Capital Partners and US Venture Partners
8. TriVirix International, Chapel Hill, N.C.; Medical devices; $25 million (4th)
Investors: Grotech Capital Group (co-lead), Morgan Stanley Venture Partners (co-lead), Aurora Funds, Charlotte Angel Partners, Crescent Capital, Enterprise Equity, Frontier Capital, MDS Capital, Memphis Biomed Ventures, SunTrust Equity Partners, Thompson Clive and Partners, Trelys Venture Partners and Tri-State Investment Group of Chapel Hill
9. Wave 7 Optics, Alpharetta, Ga.; Telecom; $23 million (2nd)
Investors: ATV Capital (lead), Armada Ventures, Lucent Venture Partners, Mellon Ventures and Morganthaler Ventures
9. Amphora Discovery, Durham; Biotech; $23 million (2nd)
Investors: ARCH Venture Partners, CW Group, MPM Capital, Venrock Associates and Versant Ventures
11. Nobex, Durham; Biotech; $22.5 million (6th)
Investors: AEA Investors (lead), HealthCap and unidentified Taiwanese venture funds
12. BioStratum, Durham; Biotech; $20 million (3rd)
Investors: BankInvest, Equity Resources Group, HealthCap and MP Bio
12. WebTone Technologies, Atlanta; Software; $20 million (NA)
Investors: Technology Crossover Ventures and individuals
14. Servigistics, Atlanta; Software; $18 million (3rd)
Investors: Bain Capital Ventures (lead), Cordova Intellimedia Ventures, Encubate Technology Ventures, Robinson-Humphrey Netlanta Fund, SSM Ventures, Symphony Technology Group and UPS Strategic Enterprise Fund
15. Elogex, Charlotte; Software: $17 million (4th)
Investors: Fenway Partners
15. Altea Therapeutics, Atlanta; Biotech; $17 million (2nd)
Investors: Domain Associates (co-lead), Venrock Associates (co-lead) and vSpring Capital
17. Wave 7 Optics, Alpharetta, Ga.; Telecom; $15.5 million (3rd)
Investors: Oak Investment Partners (lead), Advanced Technology Ventures, Armada Venture Partners, Lucent Venture Partners, Mellon Ventures and Morgenthaler Ventures
18. Greenway Medical Technologies, Carrollton, Ga.; Software; $15 million (3rd)
Investors: Individuals
18. Serenex, Durham; Biotech; $15 million (2nd)
Investors: Intersouth Partners (lead), Lilly BioVentures, Mediphase Venture Partners and Seaflower Ventures
18. Overture Networks, Research Triangle Park, N.C.; Telecom; $15 million (2nd)
Investors: Morganthaler Ventures (lead), Armada Ventures, Atlantis Group, Charlotte Angel Partners, Gray Ventures, Intersouth Partners and Tri-State Investment Group
21. Proxima Therapeutics, Alpharetta, Ga.; Medical devices; $14 million (5th)
Investors: Montagu Newhall Associates (lead), Boston Scientific, Catalyst Ventures, Domain Associates, Hillman Medical Ventures, Lovett Miller & Co., Merrill Lynch Ventures, New Enterprise Associates and Pilgrim Baxter Hybrid Partners
21. Pinpoint Networks, Cary, N.C.; Software; $14 million (2nd)
Investors: Massey Burch Capital (co-lead), New Enterprise Associates (co-lead), Atlantis Group, Intel Capital, Noro-Moseley Partners, Tri-State Investment Group and Wakefield Group
23. Dynogen Pharmaceuticals, Durham; Biotech; $13.25 million (1st)
Investors: Oxford Bioscience Partners (lead), A.M. Pappas & Associates and HealthCare Ventures
24. Norak Biosciences, Research Triangle Park, N.C.; Biotech; $13 million (2nd)
Investors: Noro-Moseley Partners (lead), Alexandria Real Estate Equities, Aurora Funds, Intersouth Partners, Koch Ventures and Mitsui & Co. Venture Partners
25. Skylight Financial, Atlanta; Internet; $12.8 million (2nd)
Investors: GTCR Golder Rauner (lead), Walnut Investment Partners and individuals
26. LVL7 Systems, Cary, N.C.; Software; $12.5 million (2nd)
Investors: Gabriel Venture Partners (co-lead), H.I.G. Ventures (co-lead), Accton Technology and individuals
27. V3 Systems, Charlotte; Software; $11.5 million (1st)
Investors: Sterling Venture Partners (lead), Draper Atlantic Management, SpaceVest and Updata Venture Partners
28. INC Research, Raleigh; Pharmaceutical services; $11 million (NA)
Investors: Crosspoint Venture Partners (lead)
28. GlobalCare, Alpharetta, Ga.; Internet; $11 million (1st)
Investors: Insight Venture Partners (lead), C&B Capital and THK Private Equities
30. N2 Broadband, Duluth, Ga.; IT services; $10 million (2nd)
Investors: Highland Capital Partners (lead) and AOL Time Warner Ventures
30. HiddenMind Technology, Cary, N.C.; Software; $10 million (4th)
Investors: JLT Group
30. Velant, Atlanta; IT services; $10 million (2nd)
Investors: 3i and Matrix Partners
33. Magnet Communications, Atlanta; Internet; $9.4 million (4th)
Investors: Conning Capital Partners and Total Technology Ventures
34. Peak 10, Charlotte; IT services; $9.2 million (3rd)
Investors: Frontier Capital and Seaport Capital
35. Proficient Systems, Atlanta; Software; $9 million (2nd)
Investors: GIMV (lead), Fuqua Ventures, Kinetic Ventures, Labrador Ventures and individuals
35. GuardedNet, Atlanta; Software; $9 million (1st)
Investors: M/C Venture Partners (lead), Imlay Investments and Technical Consulting Services
37. MediaSpan, Durham; Media; $8.5 million (1st)
Investors: Covestco-Seteura, Rustic Canyon Group, Southeast Interactive Technology Funds
37. Fast-Talk Communications, Atlanta; IT services; $8.5 million (2nd)
Investors: Boston Millennia Partners (lead), Atlanta Technology Angels, Cordova Ventures, HIG Ventures and SAIC Venture Capital
39. GenPhar, Mount Pleasant, S.C.; Biotech; $8 million (1st)
Investors: Individuals
39. Digiquant, Atlanta; IT services; $8 million (3rd)
Investors: General Atlantic Partners (lead), Cisco Systems, Index Ventures, Vertex Management and individuals
39. Netifice Communications, Atlanta; Telecom; $8 million (4th)
Investors: Boston Millennia Partners, Columbia Capital, Dolphin Communications Partners and H.I.G. Capital
42. NetOctave, Morrisville, N.C.; IT services; $7.8 million (2nd)
Investors: Intersouth Partners (lead), Intel Communications Fund, Kitty Hawk Capital, MCNC, North Carolina Enterprise Fund and Wakefield Group
43. Flamenco Networks, Atlanta; Telecom; $7.4 million (2nd)
Investors: Flagship Ventures (lead), Cordova Ventures and Noro-Moseley Partners
44. iOnosphere, Greenville, S.C.; Telecom; $7 million (2nd)
Investors: Pharos Capital (lead) and Trelys Venture Partners
44. Zoom Culture, Chapel Hill, N.C.; Media; $7 million (2nd)
Investors: Chrysalis Ventures (lead), Atlantis Group, Charlotte Angel Partners, Cordova Ventures, Intersouth Partners and Tri-State Investment Group.
46. Netifice Communications, Atlanta; Telecom; $6.5 million (3rd)
Investors: Boston Millennia Partners, Columbia Capital and HIG Ventures
46. TEAMM Pharmaceuticals, Morrisville, N.C.; Pharmaceuticals; $6.5 million (2nd)
Investors: Harbert Management (lead) and individuals
48. Cropsolution, Morrisville, N.C.; Biotech; $6.4 million (1st)
Investors: Aurora Funds (lead), ATP Capital, Atlantis Group, Charlotte Angel Partners and Research Triangle Ventures
49. HAHT Commerce, Raleigh; Software; $6 million (2nd)
Investors: Canaan Partners
49. iReadyWorld, Charlotte; IT services; $6 million (3rd)
Investors: Total Technology Ventures (lead), Greenspring Ventures and Red Badge Ventures
51. ChannelAdvisor, Morrisville, N.C.; Software; $5.7 million (2nd)
Investors: Genesis Venture Partners (lead), eBay, Southern Capitol Ventures, The Atlantis Group and Tri-State Investment Group
52. Lancope, Alpharetta, Ga.; Software; $5.55 million (1st)
Investors: GMG Capital Partners and HIG Capital
53. EG Technology, Atlanta; Telecom; $5.5 million (1st)
Investors: Noro-Moseley Partners (lead), Gray Ventures, HIG Ventures and Yamacraw Seed Capital
54. KnowledgeStorm, Alpharetta, Ga.; IT services; $5.25 million (2nd)
Investors: Sterling Venture Partners (lead), Apex Venture Partners, Imlay Investments, Live Oak Equity Partners and Total Technology Ventures
55. Datatrac, Atlanta; Software; $5 million (1st)
Investors: Megunticook Fund
55. MedCenterDirect.com, Atlanta; Internet; $5 million (4th)
Investors: Healthsouth, UBS Warburg
55. SiteScape, Wilmington, N.C.; IT services; $5 million (2nd)
Investors: Echelon Ventures, SAIC Venture Capital
55. CipherOptics, Raleigh; IT services; $5 million (1st)
Investors: Kodiak Venture Partners
55. eCompanyStore, Atlanta; Internet; $5 million (NA)
Investors: ITC Holdings
55. Oculan, Raleigh; IT services; $5 million (3rd)
Investors: Soros Private Equity Partners
55. FormScape, Morrisville, N.C.; Software; $5 million (2nd)
Investors: MTI Partners
55. KryoTech, West Columbia, S.C.; Hardware; $5 million (4th)
Investors: Delta Design
63. Trinity Convergence, Raleigh; Telecom; $4.5 million (2nd)
Investors: Core Capital Partners, Intersouth Partners and Mid-Atlantic Venture Funds
63. Relativity Technologies, Cary, N.C.; Software; $4.5 million (3rd)
Investors: Intel Capital, Nichimen, Noro-Moseley Partners, Wakefield Group and individuals
65. VistaScape Technology, Atlanta; Software; $4.1 million (3rd)
Investors: Visionaria Venture Capital (lead), CDP Capital and individuals
66. AppGate, Durham; IT services; $4 million (3rd)
Investors: ABN Amro (co-lead), GE Equity (co-lead), Bure Equity, Industrifinans, Innovationskapital and Pythagoras
66. LastMinuteTravel.com, Atlanta; Internet; $4 million (NA)
Investors: Individuals
66. EZ Prints, Atlanta; Internet; $4 million (4th)
Investors: PA Early Stage Partners and The Cairnwood Group
66. ParinGenix, Charlotte; Biotech; $4 million (1st)
Investors: Academy Funds, A.P. Kennedy Family Securities and Research Corporation Technologies
66. Encelle, Raleigh; Biotech; $4 million (4th)
Investors: Intersouth Partners, Koerner Capital and North Carolina Enterprise Fund
71. YellowBrick Solutions, Morrisville, N.C.; Software; $3.9 million (3rd)
Investors: Artai Luxembourg and P3
72. Ziptronix, Research Triangle Park, N.C.; Hardware; $3.5 million (2nd)
Investors: Alliance Technology Ventures, Research Triangle Ventures, RTI International and Xilinx
73. DarPharma, Chapel Hill, N.C.; Biotech; $3.2 million (1st)
Investors: Stanley Foundation and individuals
74. Trinity Convergence, Raleigh; Telecom; $3.1 million (1st)
Investors: Core Capital Partners, Intersouth Partners, Mid-Atlantic Venture Funds
75. ConstructWare, Alpharetta, Ga.; Software; $3 million (3rd)
Investors: Cordova Ventures, Live Oak Equity Partners and Smith Harbor Ventures
75. MDdatacor, Alpharetta, Ga.; IT services; $3 million (2nd)
Investors: Dianon Systems and individuals
75. Total Billings, Fayetteville, N.C.; Software; $3 million (2nd)
Investors: Dogwood Equity and Frontier Capital
75. Bloodhound, Durham; Software; $3 million (4th)
Investors: Noro-Moseley Partners (lead), A.M. Pappas & Associates, Eno River Capital and Wakefield Group
75. Datatrac, Atlanta; Software; $3 million (2nd)
Investors: LogiSpring and Megunticook Fund
80. LiveWire Logic, Morrisville, N.C.; IT services; $2.8 million (2nd)
Investors: Gray Ventures (lead), A.M. Pappas & Associates, The Atlantis Group, Charlotte Angel Partners, Research Triangle Ventures, Tri-State Investment Group, truePilot and individuals
