Ohio received US$132 million in venture capital funds in the second quarter

By IVCPOST Staff Reporter

Jul 22, 2013 11:27 PM EDT

Venture capitalist investments in Ohio start-up companies had exceeded US$132 million in the second quarter of 2013. The statistics were reported by PricewaterhouseCoopers in The MoneyTree Report and the National Venture Capital Association.

The US$132 million was raised across 40 deals statewide. At this point last year, US$183 million had been invested in 33 deals across Ohio. The pace of investments, however, fell sharply in the second half of last year.

"Dollars are coming in, entrepreneurs are proving they can grow companies. That success will breed more success in Ohio." Brian Williams, PwC director of pharmaceuticals and life sciences, said. He added that the statistics for Ohio is encouraging.

Venture capital investments in Ohio was at its highest level in 2000 when more than US$1 billion was invested into the sate. It diminished dramatically through 2004. Only a total of 37 transactions happened that year and those transactions only brought in US$89 million.

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