Local Tech Wire

RESEARCH TRIANGLE PARK, N.C. – Venture capitalists poured $7.7 billion into 744 deals in the second quarter, according to data from Dow Jones VentureSource.

That’s the highest quarterly total dating back to the start of the recession in 2008 when in the third quarter VCs made 699 deals worth $8.4 million.

is higher than the $6.5 billion reported by PricewaterhouseCoopers, Thomson Reuters and the National Venture Capital Association on Friday. The cited more than 900 deals.

“Fueled by investors’ need to keep current portfolio companies funded and to begin investing from new funds, venture capital financing had a strong quarter,” said Jessica Canning, the global research director for Dow Jones VentureSource. “Deal activity and capital invested in venture-backed companies is once again near levels seen before the start of the economic recession in 2008.”

VentureSource documented 14 deals in North Carolina worth $126.22 million.

North Carolina firms were involved in 14 deals worth more than $130 million, according to Moneytree.

Georgia deals totaled 17, generating $34 million according to Moneytree but $56.1 million was reported by VentureSource.
Two deals in South Carolina were worth $4.2 million, Moneytree said, but VentureSource said the two deals it tracked totaled $17.8 million.

Life science deals generated $2.7 billion across 201 deals, VentureSource reported. That dolar was up 13 percent from a year ago.

Information technology generated more deals at 231 but less for investment at $1.9 billion. IT deals generated $1.6 billion a year ago in 208 deals.

Energy and utilities investing soared 86 percent to $1.1 billion in 26 deals.

Business and financial services recorded $814 million across 117 deals. A year ago, 96 transactions generated $707 million.

Later-stage deals drew 62 percent of the capital in the quarter while seed and first-round deals dropped to 15 percent of the dollar total from 19 percent in the same quarter in 2009.

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