CapitalHunter.com Reports: Venture Capital Activity Still Strong With Over $363 Million Raised Nationally

CapitalHunter.com identified that over $363 million was raised primarily by California based software companies this reporting period. In addition, seven companies began trading on Wall Street for a total of $3.1 billion, a significant increase compared to the prior week’s $103 million.

SAN DIEGO, CA June 2, 2004 -- CapitalHunter.com identified that $363 million of venture capital was invested in 37 U.S.-based companies during this week’s reporting period. The average deal size was approximately $9.84 million. The amount of venture capital invested this period decreased by 22% over last week’s $468 million explosive performance. Visit www.capitalhunter.com for a two week free trial.

On Wall Street this reporting period seven IPO’s hit the trading floor: ACADIA Pharmaceuticals (www.acadia-pharm.com), Alnylam Pharmaceuticals (www.alnylam.com), AngioDynamics (www.angiodynamics.com), Critical Therapeutics (www.criticaltherapeutics.com), Genworth (www.genworth.com), Republic Airways Holdings (www.republicairways.com), and Standard Parking Corporation (www.standardparking.com)

Venture Capital Investments by Region

Geographically, 17 California companies raised $174.9 million in venture financings. The largest venture financing in California this period was into evalve, Inc. (www.evalveinc.com) for $35 million. evalve, Inc. is a Redwood City based company that designs, develops, manufactures and markets products which enable the endovascular repair of cardiac valves.

Venture Capital Investments by Sector

The software sector raised 29% of the venture capital this period. 16 software companies raised over $105 million in venture financing. The largest venture financing was by Itemfield, Inc. (www.itemfield.com) for $13.5 million. Itemfield, Inc. is headquartered in San Mateo, CA and is a provider of real-time, bi-directional, XML-based data transformation software.    

Venture Capital Investments by Round

Companies raising their Series B round led this week’s venture capital activity. Series B companies represented 36% of the total venture capital deployed this period. The largest Series B financing was into Tacit Networks, Inc. (www.tacitnetworks.com) for $16.9 million. Tacit Networks, Inc. is an innovator in enterprise-class wide area network (WAN)-based storage consolidation solutions.

Top Three Venture Capital Investments

The three largest venture deals this period are as follows:

1.    Altus Pharmaceuticals (www.altus.com)
2.    evalve
3.    Tacit Networks

Venture Capitalists funding the Top Three Deals

The following thirteen investors funded the above mentioned top three venture capital investments in excess of $102 million: ABS Ventures (www.absventures.com), Canaan Partners (www.canaan.com), CTTV Investments (www.chevrontexaco.com/technologyventures/), Cutlass Capital (www.cutlasscapital.com), Delphi, Guidant Corporation (www.guidant.com), JP Morgan Partners (www.jpmorgan.com/pages/jpmorgan/jpmorganpartners), New Enterprise Associates (www.nea.com), RRE Ventures (www.rreventures.com), SAS Investors (www.sasinvestors.com), St. Paul Venture Capital (www.spvc.com), Three Arch Partners (www.threearchpartners.com), Warburg Pincus (www.warburgpincus.com)

A total of 75 equity financings of private and public companies occurred during this reporting period. Each of the 75 equity financings are profiled in a weekly report which include venture financings, private placements, secondary offerings, PIPE’s, and IPO’s. Also available is access to over 30,000 other historic equity financings through the www.capitalhunter.com searchable database.

About CapitalHunter.com

CapitalHunter.com is a web-based financial information company that identifies and disseminates national data on venture capital and other equity financings.

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