Venture capitalists’ wheeling and dealing slowed in Colorado in the third quarter as fewer deals and dollars were announced, according to the PricewaterhouseCoopers MoneyTree report.
Colorado companies had 12 deals for $70.9 million, which is about half the number of deals made in earlier quarters this year, according to the report released Friday.
Typically, the state has 20 or more third-quarter deals. The dollar amount was lower, too. This was the first quarter since early 2013 that funding dropped below $100 million.
” ‘A quarter doesn’t make a trend’ is my analysis,” said Rob Ward, a PwC partner in its audit practice in Denver.
Most states saw lower numbers in the third quarter. For the year, Colorado is on pace with prior years, having raised $516.5 million, Ward said. He pointed to Colorado’s second quarter, when .
“Quarter two was the second-largest in dollars in Colorado for the past 10 years,” he said. “I would call this another good quarter for Colorado.”
In the third quarter, Boulder’s Sovrn, an online advertising technology company, raised $17.9 million, and Wayin, a Denver digital-marketing firm, .
Tamara Chuang: , tchuang@denverpost.com or visit dpo.st/tamara
