Four venture capital deals, including two in Charlotte, lifted the venture capital funding level for the Carolinas and Georgia to some $225 million.
Through the first quarter last year, VC fund-raising topped $300 million.
Biggest deal of the week was $4 million raised by USA Staffing in Greensboro.
In Charlotte, AvidXchange raised $2 million and Trinity Security announced a $1.5 million deal.
In Atlanta, SAK Logistics closed on $500,000.
The region’s slow pace reflects the national trend. The National Venture Capital Association reported that firms made $3.4 billion in deals nationally through the first quarter. That’s just barely over half the 2002 total.
(If LTW has missed a deal, please notify Managing Editor Rick Smith via e-mail, email@example.com ).
Here is LTW’s exclusive list, which will be updated and published each Monday, for the three-state area:
Investment size; company; focus; location; investors
1. $63.5 million; New South Communications; telecommunications; Greenville, SC; Kohlberg, Kravis, Roberts; Wachovia Partners; Quadrangle Group; Vaxa Corporate Partners; M/C Ventures.
2. $24.5 million; TransTech Pharma; High Point, NC; pharmaceutical; MacAndrews & Fowles, Novo Nordisk A/S and Caphalon
3. $15.5 million; Prenova; services; Atlanta; Frontenac, Austin Ventures, River Cities Capital.
4. $14 million; Targacept; biotech; Nomura International, Oxford Bioscience Partners, JAFCO, Cogene Biotech Ventures, Bison Capital, Rock Castle Ventures; 2nd
4. $14 million; STI Knowledge; software and services; Atlanta; Satish Sanan (individual), BV-Cornerstone Ventures, Mellon Ventures; 1st.
6. $11 million; nuBridges; software; Atlanta; C&B Capital, GMT Capital, Noro-Moseley, hf Flagship Investments, Tycho and Marie Hawle Foundation plus 24 individuals.
7. $10.5 million; Arsenal Digital Solutions; storage management; Cary; Covestco, Southeast Interactive technology Funds, Southern Cross Capital; 4th.
8. $9.8 million; Stemco; biotech; Aurora Funds, Intersouth Partners, Becton Dickinson Ventures, Trelys Venture Partners, Tall Oaks Capital.
9. $8.5 million; OrthoNeuro; Charlotte; specialty hospital; New Enterprise Associates.
10. $7 million; Venetica; software; Charlotte; Charles River Ventures, General Catalyst Partners; 1st
11. $6.2 million; Brickstream Corporation; software; Columbia Capital and Mohr Davidow Ventures; 1st
12. $5 million; Lancope; security; Atlanta; HIG Ventures, GMG Capital Partners; 2nd
12. $5 million; Oculan; networking; Soros Equity Partners.
14. $4 million; USA Staffing; services; Greensboro; Venture Capital Solutions, Argosy Investment Partners II
15. $3.3 million; Q1 Labs; Atlanta; software; Business Development Bank of Canada, New Brunswick Investment Management Corp.; 1st
16. $3 million; Flexlight; Atlanta; optics/networking; Coral Ventures, Concord Ventures; 2nd
17. $2.1 million; Qcept; Atlanta; manufacturing; Pittco Capital Partners, Atlanta Technology Ventures, Bergman & Associates.
18. $2 million; Relativity; Cary, NC; software; Wakefield Group, Noro-Moseley
18. $2 million; AvidXchange; Charlotte; software; Charlotte Angels, Piedmont Angels and individuals; 2nd.
20. $1.6 million; RSS Solutions; Greenville, NC; software; Edgestone Capital Partners.
21. $1.5 million; LiveWire Logic; Morrisville, NC; software and services; Research Triangle Ventures, Gray Ventures
21. $1.5 million; Trinity Security; Charlotte; services; Venture Capital Solutions
23. $1.3 million; Tranzyme; RTP; biotech; Research Triangle Ventures, Paradigm Venture Partners, Green & Associates. Pacific Rim Ventures
24. $500,000; SAK Logistics; software; Atlanta; angels; 1st