Georgia continues to fire blanks in the venture capital arms race.
A week after an Atlanta software developer grabbed a $2 million second round, the state once again was shut out in deals last week. That is the fourth week in the past two months the state has failed to record a deal.
So far this year, Georgia has posted 11 deals for about $66 million … a far cry off the blistering pace of 23 deals for $260 million by early May 2002.
Here’s LTW’s exclusive list of Georgia venture deals, ranked according to the size of the investment:
Company; Sector; Amount (Round):
1. Prenova, Marietta; IT services; $15.5 million (3rd)
Investors Frontenac (lead) Austin Ventures and River Cities Capital Funds
2. STI Knowledge, Atlanta; Software; $14 million (1st)
Investors: Satish Sanan (individual lead) BV-Cornerstone Ventures and Mellon Ventures
3. nuBridges, Atlanta; Software; $11 million (2nd)
Investors: hf Flagship Investments (lead), C&B Capital, GMT Capital, Noro-Moseley, Tycho and Marie Hawle Foundation and individuals
4. Brickstream, Atlanta; Software; $6.2 million (1st)
Investors: Columbia Capital and Mohr Davidow Ventures
5. Lancope, Alpharetta; IT Services; $5 million (2nd)
Investors: HIG Ventures and GMG Capital Partners
6. Q1 Labs, Atlanta; Software; $3.3 million (1st)
Investors: Business Development Bank of Canada and New Brunswick Investment Management
7. Flexlight, Atlanta; Networking; $3 million (2nd)
Investors: Coral Ventures and Concord Ventures
7. Quellan, Atlanta; Hardware; $3 million (2nd)
Investors: Cordova Intellimedia Ventures, Greenspring Ventures, ITU Ventures, National Semiconductor, University Financing Foundation and Yamacraw Seed Capital Fund III
9. Qcept, Atlanta; Hardware; $2.1 million (NA)
Investors: Pittco Capital Partners (lead), Atlanta Technology Ventures and Bergman & Associates
10. Auctionworks, Atlanta; Software; $2 million (2nd)
Investors: Undisclosed
11. SAK Logistics, Atlanta; Software; $500,000 (1st)
Investors: Individuals
