RALEIGH … North Carolina technology firms bid adieu to a tough year, in which more companies initially funded during the Internet boom were allowed to go under and all survivors had to deal with tighter cash flow from venture capitalists.
In what appears to be the final deal of the year (unless one is announced in the next two days), Tranzyme, a University of Alabama at Birmingham spinoff that established research hub in Research Triangle Park in September, pulled in $1.3 million in second-round financing.
That puts the year-end venture capital total for the state at about $475 million by 60 firms, for an average deal size of $7.9 million. That compares with just over $500 million raised in 2001 in 75 deals, according to the MoneyTree report.
Here is LocalTechWire’s exclusive list of deals in the state, ranked according to the amount raised:
Company; Industry; Amount (Round)
1. Targacept, Winston-Salem; 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
2. Hatteras Networks, Durham; Telecom; $45 million (3rd)
Investors: Grotech Capital Group (lead), Bessemer Venture Partners, Columbia Capital and ComVentures
3. 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
4. TriVirix International, Chapel Hill; 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
5. Amphora Discovery, Durham; Biotech; $23 million (2nd)
Investors: ARCH Venture Partners, CW Group, MPM Capital, Venrock Associates and Versant Ventures
6. Nobex, Durham; Biotech; $22.5 million (6th)
Investors: AEA Investors (lead), HealthCap and unidentified Taiwanese venture funds
7. BioStratum, Durham; Biotech; $20 million (3rd)
Investors: BankInvest, Equity Resources Group, HealthCap and MP Bio
8. Elogex, Charlotte; Software: $17 million (4th)
Investors: Fenway Partners
9. Serenex, Durham; Biotech; $15 million (2nd)
Investors: Intersouth Partners (lead), Lilly BioVentures, Mediphase Venture Partners and Seaflower Ventures
9. 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
11. Pinpoint Networks, Cary; 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
12. Dynogen Pharmaceuticals, Durham; Biotech; $13.25 million (1st)
Investors: Oxford Bioscience Partners (lead), A.M. Pappas & Associates and HealthCare Ventures
13. Norak Biosciences, Research Triangle Park; Biotech; $13 million (2nd)
Investors: Noro-Moseley Partners (lead), Alexandria Real Estate Equities, Aurora Funds, Intersouth Partners, Koch Ventures and Mitsui & Co. Venture Partners
14. 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
15. V3 Systems, Charlotte; Software; $11.5 million (1st)
Investors: Sterling Venture Partners (lead), Draper Atlantic Management, SpaceVest and Updata Venture Partners
16. INC Research, Raleigh; Pharmaceutical services; $11 million (NA)
Investors: Crosspoint Venture Partners (lead)
17. HiddenMind Technology, Cary; Software; $10 million (4th)
Investors: JLT Group
18. Peak 10, Charlotte; IT services; $9.2 million (3rd)
Investors: Frontier Capital and Seaport Capital
19. MediaSpan, Durham; Media; $8.5 million (1st)
Investors: Covestco-Seteura, Rustic Canyon Group and Southeast Interactive Technology Funds
20. NetOctave, Morrisville; IT services; $7.8 million (2nd)
Investors: Intersouth Partners (lead), Intel Communications Fund, Kitty Hawk Capital, MCNC, North Carolina Enterprise Fund and Wakefield Group
21. Zoom Culture, Chapel Hill; Media; $7 million (2nd)
Investors: Chrysalis Ventures (lead), Atlantis Group, Charlotte Angel Partners, Cordova Ventures, Intersouth Partners and Tri-State Investment Group
22. TEAMM Pharmaceuticals, Morrisville, N.C.; Pharmaceuticals; $6.5 million (2nd)
Investors: Harbert Management (lead) and individuals
23. Cropsolution, Morrisville; Biotech; $6.4 million (1st)
Investors: Aurora Funds (lead), ATP Capital, Atlantis Group, Charlotte Angel Partners and Research Triangle Ventures
24. HAHT Commerce, Raleigh; Software; $6 million (2nd)
Investors: Canaan Partners
24. iReadyWorld, Charlotte; IT services; $6 million (3rd)
Investors: Total Technology Ventures (lead), Greenspring Ventures and Red Badge Ventures
26. ChannelAdvisor, Morrisville; Software; $5.7 million (2nd)
Investors: Genesis Venture Partners (lead), eBay, Southern Capitol Ventures, The Atlantis Group and Tri-State Investment Group
27. SiteScape, Wilmington; IT services; $5 million (2nd)
Investors: Echelon Ventures, SAIC Venture Capital
27. CipherOptics, Raleigh; IT services; $5 million (1st)
Investors: Kodiak Venture Partners
27. Oculan, Raleigh; IT services; $5 million (3rd)
Investors: Soros Private Equity Partners
27. FormScape, Morrisville; Software; $5 million (2nd)
Investors: MTI Partners
31. Trinity Convergence, Raleigh; Telecom; $4.5 million (2nd)
Investors: Core Capital Partners, Intersouth Partners and Mid-Atlantic Venture Funds
31. Relativity Technologies, Cary; Software; $4.5 million (3rd)
Investors: Intel Capital, Nichimen, Noro-Moseley Partners, Wakefield Group and individuals
33. AppGate, Durham; IT services; $4 million (3rd)
Investors: ABN Amro (co-lead), GE Equity (co-lead), Bure Equity, Industrifinans, Innovationskapital and Pythagoras
33. ParinGenix, Charlotte; Biotech; $4 million (1st)
Investors: Academy Funds, A.P. Kennedy Family Securities and Research Corporation Technologies
33. Encelle, Raleigh; Biotech; $4 million (4th)
Investors: Intersouth Partners, Koerner Capital and North Carolina Enterprise Fund
36. YellowBrick Solutions, Morrisville; Software; $3.9 million (3rd)
Investors: Artai Luxembourg and P3
37. Ziptronix, Research Triangle Park; Hardware; $3.5 million (2nd)
Investors: Alliance Technology Ventures, Research Triangle Ventures, RTI International and Xilinx
38. DarPharma, Chapel Hill; Biotech; $3.2 million (1st)
Investors: Stanley Foundation and individuals
39. Trinity Convergence, Raleigh; Telecom; $3.1 million (1st)
Investors: Core Capital Partners, Intersouth Partners, Mid-Atlantic Venture Funds
40. Total Billings, Fayetteville; Software; $3 million (2nd)
Investors: Dogwood Equity and Frontier Capital
40. Bloodhound, Durham; Software; $3 million (4th)
Investors: Noro-Moseley Partners (lead), A.M. Pappas & Associates, Eno River Capital and Wakefield Group
42. LiveWire Logic, Morrisville; 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
43. nTouch Research, Raleigh; Pharmaceutical services; $2.6 million (3rd)
Investors: Canaan Partners (co-lead), Intersouth Partners (co-lead), Bioventures and Tri-State Investment Group
44. Waveguide Solutions, Charlotte; Semiconductors; $2.5 million (2nd)
Investors: Academy Venture Funds and Southeast Interactive Technology Funds
44. Zoom Culture, Chapel Hill; Media; $2.5 million (3rd)
Investors: Chrysalis Ventures, Cordova Ventures and Intersouth Partners
46. BuildLinks, Cary; Software; $2 million (2nd)
Investors: IdeaEdge Ventures and Southeast Interactive Technology Funds
47. Kucera Pharmaceuticals, Winston-Salem; Biotech; $1.9 million (1st)
Investors: Academy Funds, Piedmont Angel Network and individuals
48. AvidXchange, Charlotte; Software; $1.75 million (2nd)
Investors: CT Communications (lead), Charlotte Angel Partners and individuals
49. Gentris, Morrisville; Biotech; $1.5 million (1st)
Investors: Exelixis, Research Triangle Ventures and individuals
49. BioResource International, Raleigh; Biotech; $1.5 million (1st)
Investors: Chinese venture firm and individuals
51. Tranzyme, Research Triangle Park; Biotech; $1.3 million (2nd)
Investors: Greer & Associates, Pacific Rim Ventures, Paradigm Venture Partners and Research Triangle Ventures
52. MindValve, Charlotte; Software; $1 million (Seed)
Investors: Academy Venture Funds
52. ChemCodes, Durham; Biotech; $1 million (2nd)
Investors: Emerging Technology Partners
52. Lambda Technologies, Morrisville; Hardware; $1 million (6th)
Investors: Intersouth Partners
55. Bandwidth.com, Durham; Telecom; $500,000 (1st)
Investors: Individuals
55. Xanthon, Research Triangle Park; Biotech; $200,000 (4th)
Investors: Aurora Funds, Franklin Street Partners, Intersouth Partners and Noro-Moseley Partners
57. Regado, Durham; Biotech; $150,000 (Seed)
Investors: Aurora Funds, Intersouth Partners and MDS Capital
58. BuildLinks, Cary; Software; NA (1st)
Investors: Knier and Associates
58. FullSeven Technologies, Research Triangle Park; Software; NA (2nd)
Investors: Southern Capitol Ventures and individuals
58. Waveguide Solutions, Charlotte; Hardware; NA (3rd)
Investors: Academy Funds and Southeast Interactive Technology Funds
