Saturday, July 16, 2005

Weekly Venture Capital Activity Week March 21, 2005 through March 27, 2005

Weekly Venture Capital Activity Week March 21, 2005 through March 27, 2005

This reporting period companies based in California operating in the Software industry and that have raised their Series B round of financing led the pack in the amount of venture financing raised. Also, there were no IPOs this reporting period.

(PRWEB) March 30, 2005

www. capitalHunter. com was able to verify that $245 million of venture capital was invested in 25 U. S.-based companies during this weekÂ’s reporting period. The average deal size was approximately $9.80 million. The amount of venture capital invested this period decreased by 22% compared to last periods $315 million.

Geographically,10 California companies raised $118.20 million in venture financings which represents 48% of the total venture capital invested this reporting period. The largest private venture financing in California this period was into TelASIC Communications. TelASIC Communications raised $26 million and is El Segundo based and is a developer of high-performance analog and mixed-signal integrated circuits (ICs) and sub-systems for the 3G wireless infrastructure market.

The software sector raised 33% of the venture capital this period. Eleven software companies raised $81.35 million in venture financing. The largest private venture financing in the software sector this period was into Encentuate. Encentuate raised $16 million and is a Foster City, CA based company that provides enterprise access security solutions for businesses.

Companies raising their Series B round of financing led this weekÂ’s venture capital activity. Series B financings represented 53% of the total venture capital deployed this period. The largest private venture financing in Series B stage financing this period was into Sequoia Pharmaceuticals. Sequoia Pharmaceuticals raised $22 million and is Gaithersburg, MD based that is a pharmaceutical company focused on discovering novel drugs to combat drug-resistant viral infections, especially HIV/AIDS and hepatitis C.

The three largest venture deals this period are as follows: 1 TelASIC Communications, Semiconductor $26 million 2 Sequoia Pharmaceuticals, Biotechnology, $22 million 3 Teneros, Network & Equipment, $17.5 million

The following twelve and other unnamed investors funded the above mentioned top three venture capital investments for $65.5 Million: Aberdare Ventures, Agilent Technologies, ComVentures, Health Care Ventures, Mission Ventures, New Enterprise Associates, Redpoint Ventures, Sevin Rosen Funds, Sofinnova Partners, Star Ventures, The IPO Group, Wellcome Trust

A total of 69 equity financings of private and public companies occurred during this reporting period. Each of the 69 equity financings are profiled in a weekly report which include venture financings, private placements, secondary offerings, PIPEÂ’s, and IPOÂ’s.

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