Better Data. Bet ter Decisions.
3Q 2012 VC Deal Countby State
VC deal-making in Caliornia ell by 25% rom 2Q to 3Q,with investors completing 283 deals during the mostrecent quarter. With VC investment down acrossthe board, a pullback in the most active state shouldnot be surprising, but deal-making plummetedwell below recent averages to its lowest level since4Q 2009. While activity remained relatively steady in B2C, most o the downturn can be attributed toa 27% drop in I deals and a 55% contraction inHealthcare investments.
Selected CaliforniaFinancing Highlight
-94 dealsfrom 2Q2012
Social Finance aims to improve the student loan system by connectingstudents and alumni through a dedicated lending pool. Te programprovides investment opportunities to alumni while oering students lowerloan rates than traditional lending avenues. Since its inception in 2011,Social Finance has taken in three rounds o equity and debt nancing,including a $77.2 million Series B round in 3Q 2012.
Total VC Funding: $77.2M+
Missouri is a long way rom being considereda hub o VC activity, but the state more thandoubled its number o nancings rom 5 in 2Q2012 to 12 in 3Q 2012. Te 12 deals marks anew record or quarterly nancings in Missouri,but the state has garnered some hey rounds inthe past, including a total o $203 million overve nancings or the health insurance andsoware company Essence Group Holdings.Interestingly, Missouri did not have a single latestage deal in 3Q 2012, with seven seed and angelrounds and ve early stage investments.Founded in 2010, Confuence Lie Sciences developskinase inhibitors to treat cancer and infammatory diseases by targeting key signal transductionenzymes. Te St. Louis-based company producesproducts or both human and veterinary diseasesand employs a qualied team that has garnered morethan 90 patents and brought our drugs to market.
Selected MissouriFinancing Highlight
Confuence Lie Sciences
Total VC Funding: $4.0M
+7 deals from 2Q 2012
One o the states that experienced the biggest slowdown rom2Q to 3Q 2012 was New York, which saw its number o VCrounds slide 42%. With just 68 deals closing, 3Q 2012 was theslowest quarter or New York-based VC nancings in the lasttwo years. Te pullback was not conned to any one industry,I rounds ell by about hal (48%), B2C nancings tumbled by about a third (35%), and Healthcare deals were down three-quarters (75%).
-49 dealsfrom 2Q2012
Total VC Funding: $104.8M
Selected New York Financing Highlight
Intercept Pharmaceuticals, a developer o small molecule drugs or the treatment o chronic liver and metabolic diseases, inked a$30 million Series C round in August o thisyear beore turning around less than a monthlater and ling or an IPO on the NASDAQunder the ticker ICP. Te company’s primary product is obeticholic acid (OCA), a bile acidanalog similar to human bile acid that may be used to promote liver-protective properties.
No ChangeIncreased deal countfrom 2Q to 3QDecreased deal countfrom 2Q to 3Q