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DC-Area Companies Attract Most VC in a Quarter Since 2007

Private companies in the DC area attracted $418.2 million in venture capital during the second quarter, the highest quarterly total since 2007, according to the latest MoneyTree report from PricewaterhouseCoopers (PwC) and the Arlington-based National Venture Capital Association (NVCA), based on data provided by Thomson Reuters. The figure is more than twice as much as the same quarter in 2012, despite the fact that the number of deals (29) is the lowest in nearly three years. Nationally, venture capitalists invested $6.7 billion in 913 deals, with investment activity rising 12% in terms of dollars and 2% in the number of deals compared with the prior quarter. The Internet-specific and biotechnology sectors saw the largest increases. "In many ways it feels like the late 1990's with information technology driving venture investment and significantly outpacing other sectors when it comes to level of activity and momentum," said Mark Heesen, president of the NVCA. "The difference, however, is where we go from here. There will be no tech bubble. IT investing will continue to be the bedrock of the venture industry -- but at sustainable levels."

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