, Staff Writer
Nationwide, venture capitalists invested $7.1 billion in U.S. companies in the second quarter -- the most in almost six years. In the Triangle, however, no records were shattered.For the three months ended June 30, Triangle companies collected $122.6 million in venture capital, according to numbers released Monday by accounting firm PricewaterhouseCoopers.On the bright side, the average amount of money raised per deal was slightly higher than the national average. And six of the deals benefited very young companies.In addition, the amount of money was up slightly from the $117 million raised in the second quarter a year ago."This is still a respectable quarter," said Terry Bowling, who heads PricewaterhouseCoopers' Raleigh office.What the Triangle lacked this time around were the large deals that made the first three months of the year stand out.Large deals -- two investments made up almost half of the $224.8 million Triangle companies received in the first quarter -- tend to make the data lumpy and hard to explain, said Mitch Mumma of Intersouth Partners, a Durham capital venture firm.The biggest deals this time around -- for $30 million each -- went to Biolex Therapeutics in Pittsboro and ChannelAdvisor in Morrisville. The average deal in the area was for $7.7 million."It [the fundraising] wasn't too terribly difficult," said Michael Jones, ChannelAdvisor's vice president for business development and marketing.The software company completed the fundraiser in less than six months, Jones said.Nationally, the average deal was $7.3 million. The $7.1 billion invested in companies across the country was the most since the third quarter 2001, PricewaterhouseCoopers reported."It's shaping up to be a very good year if things keep up," Bowling said.The Triangle did follow one national trend: early-stage companies receiving the most money since 2001. Of the 16 Triangle firms that captured the venture capital investments, six were raising money for the first time.With a renewed interest in initial public offerings of stock on Wall Street, Mumma said he expected venture capital investing to remain strong for the rest of the year.The environment for venture capital investors seems to be improving, Mumma said. "I wouldn't go so far and call it swaggering. But we're willing to stand up with our chest out."
Staff writer Sabine Vollmer can be reached at 829-8992 or sabine.vollmer@newsobserver.com.