Venture capital investments topped $1 billion in Washington last year, marking thebiggest surge of private investment money in the state since the dot-com boom. It’s only the third time funding has reached that level since record keeping began in 1997, as reported in the Seattle P-I’s Venture blog.
Ninety-seven companies in the state raised $1.07 billion — a 29 percent increase in dollars invested and a 10 percent increase in deals.
The investment tally in the state actually could have been much larger had Dow Jones VentureOne and Ernst & Young, which compiles the report, included a massive corporate investment of more than $1 billion in Kirkland-based Clearwire.
The last time investments topped $1 billion, venture capitalists found themselves trying to
Jon Staenberg, a venture capitalist in the Seattle office of Rustic Canyon Partners, believes that Seattle is well positioned for future growth because of recent fundraising activity by firms such as Madrona Venture Group and Voyager Capital. But the former marketing manager at Microsoft admits that there is a “minibubble” with “way too much money chasing deals.”
Jordan — whose firm recently invested in Seattle mobile search startup Medio Systems and The requested URL /c/counter.php was not found on this server.
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Category: What's Brewing?
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Larry Sivitz is founder, publisher and managing editor of Seattle24x7, the founder of SearchWrite Search Marketing, an SEO, PPC and Social Media Thought Leader, and an SPJ award winner for Seattle magazine.