A downer: NC’s $100M per quarter in VC deals ends

North Carolina’s streak of eight consecutive quarters with more than $100 million in venture capital deals is over – at least according to the latest statistics from PwC’s Moneytree report.

North Carolina startups and emerging entrepreneurial companies generated 15 deals worth $94.4 million in the third quarter, according to PricewaterhouseCoopers’ Moneytree data published Friday. Moneytree, utilizing information from Thomson Reuters, has been the “bible” for nearly two decades but the National Venture Capital Association picked a new partner, PitchBook, for data effective the third quarter.

That $94.4 million total is also well below the $365 million reported a year ago as VC investing in the state and across the country surged to levels not seen since the “dot com” boon days.

The $100-million streak was based on Moneytree information.

Interestingly, the NVCA-PitchBook report that came out a week ago found that North Carolina did much better with 36 deals and $168 million in new capital.

However, two other reports (CB Insights, Dow Jones VentureSource) agree with Moneytree in finding less than $100 million in deals.

So should the N.C. startup ecosystem be concerned about a possible slowdown?

“I’m pleased with the deals completed in the third quarter, both in terms of number of deals and the dollars raised by venture back companies,” says Laura Robinette, who heads PwC operations in Raleigh.

“While dollars raised in the first three quarters of 2015 was slightly higher than the same period in 2016, the capital raised is significant, particularly in light of a slow start in the public markets in early 2016.

“Looking at the total picture, the story remains, good companies are garnering capital in the state of NC.”

Here is a look at the 3Q deals as Moneytree reported: