Venture capital deal flow worldwide is holding steady for the year but the value of those deals is climbing.
A total of 1,135 venture capital financings occurred globally in the second quarter, comparable to the number of financings in the first quarter, according to a report from Preqin, a firm that researches alternative assets including hedge funds and venture capital. Those second quarter deals represented $10.4 billion.
But year over year, venture capital deals are actually down, both in number as well as dollar value. Preqin’s second quarter 2012 data show 1,249 venture capital financings, representing $10.9 billion in value. From a geographic standpoint, most of the second quarter 2013 activity happened in North America, which accounted for 61 percent of VC deals and 74 percent of the aggregate value of deals. European VC deals increased by 5 percent in number and 26 percent in value compared to the previous quarter.
But the improved activity was not seen everywhere. China saw a 46 percent drop in the quarterly number of deals and 59 percent decrease in the aggregate deal value compared to the first quarter.
The largest venture capital haul for the quarter belonged to Fanatics, Inc., a Jacksonville, Fla.-based online retailer of sports apparel that raised $170 million in June. Internet companies represented 25 percent of all of the deals in the quarter, according to Preqin data.
Some notable second quarter deals involving North Carolina companies:
- NeuroTronik raised $13.1 million to support R&D work on a medical device to treat heart failure.
- Banking software startup nCino, based in Wilmington, raised $9 million.
- Mobile apps developer StepLeader raised $4.4 million.
- ScioDerm, a startup pharma company developing a treatment for a rare skin disorder, raised $16 million.
- Solar technology firm Semprius raised $2 million of a $4 million fundraiser.
