The flow of money into Colorado companies continued to slow, according to the second quarter MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association.
But after reaching a in the first quarter, at least second-quarter investment totals improved, said Rob Ward, a PwC partner who oversees the Colorado region. In the second quarter, 20 local firms raised $86.7 million, compared to 22 deals and $319.2 million a year ago, and 15 deals and $44.6 million in the first quarter.
“Obviously there’s a substantial slump,” said Ward, whose historic data showed Colorado firms regularly raised more than $100 million each quarter between 2011 to 2015.
But, he added, the amount of money invested in the second quarter rose 95 percent from the first quarter.
Top deals came from Denver and include digital advertiser Altitude Digital, which , and tech-compliance firm Convercent, which .
“In Colorado, the dollars aren’t there from a historical perspective but the number of deals continue to be strong. Twenty deals closed,” he said, “which puts Colorado at number nine of the 50 states.”
Dollar wise, he added, Colorado ranked at 17th.
Nationwide, venture investments were also down deal and dollar wise, at 22 and 12 percent respectively, to 961 deals raising $15.3 billion, according to PwC. But 11 were “megadeals,” raising $100 million or more each, Ward added, which helped bring the dollar figure up.
