RALEIGH … SmartPath closed on a $3.2 million round on Dec. 23, just in time to give North Carolina firms a positive spin to close 2002.

For the year, NC firms generated more than $478 million in some 61 deals, according to figures compiled by Local Tech Wire. The average deal was $7.83 million.

The total is slightly less than the $500 million raised in 75 deals a year earlier as reported by PricewaterhouseCooper’s Money Tree report. The average deal was $6.6 million.

North Carolina closed strongly with seven deals generating more than $90 million. . Amphora Discovery of Durham tapped existing investors to bring in a $23 million second round to lead the way.

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. SmartPath, Morrisville; Software; $3.2 million (2nd)

Investors: Intersouth, Tri-State, Charlotte Angel Partners, Atlantis Group, truePilot.

38. DarPharma, Chapel Hill; Biotech; $3.2 million (1st)

Investors: Stanley Foundation and individuals

40. Trinity Convergence, Raleigh; Telecom; $3.1 million (1st)

Investors: Core Capital Partners, Intersouth Partners, Mid-Atlantic Venture Funds

41. Total Billings, Fayetteville; Software; $3 million (2nd)

Investors: Dogwood Equity and Frontier Capital

41. Bloodhound, Durham; Software; $3 million (4th)

Investors: Noro-Moseley Partners (lead), A.M. Pappas & Associates, Eno River Capital and Wakefield Group

43. 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

44. nTouch Research, Raleigh; Pharmaceutical services; $2.6 million (3rd)

Investors: Canaan Partners (co-lead), Intersouth Partners (co-lead), Bioventures and Tri-State Investment Group

45. Waveguide Solutions, Charlotte; Semiconductors; $2.5 million (2nd)

Investors: Academy Venture Funds and Southeast Interactive Technology Funds

45. Zoom Culture, Chapel Hill; Media; $2.5 million (3rd)

Investors: Chrysalis Ventures, Cordova Ventures and Intersouth Partners

47. BuildLinks, Cary; Software; $2 million (2nd)

Investors: IdeaEdge Ventures and Southeast Interactive Technology Funds

48. Kucera Pharmaceuticals, Winston-Salem; Biotech; $1.9 million (1st)

Investors: Academy Funds, Piedmont Angel Network and individuals

49. AvidXchange, Charlotte; Software; $1.75 million (2nd)

Investors: CT Communications (lead), Charlotte Angel Partners and individuals

50. Gentris, Morrisville; Biotech; $1.5 million (1st)

Investors: Exelixis, Research Triangle Ventures and individuals

50. BioResource International, Raleigh; Biotech; $1.5 million (1st)

Investors: Chinese venture firm and individuals

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

56. 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