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Colorado’s venture capital activity heats up, with help from China

First quarter figures adjusted to include $161 million in Boulder’s SomaLogic by Chinese investor

Spider-Man is the latest connected toy from Boulder's Sphero. Spidey is mostly stationary but interacts vocally with children through speech recognition and motion sensors.  Sphero launched Spider Man in June 2017.
Sphero
Spider-Man is the latest connected toy from Boulder’s Sphero. Spidey is mostly stationary but interacts vocally with children through speech recognition and motion sensors. Sphero launched Spider Man in June 2017.
Tamara Chuang of The Denver Post.
PUBLISHED:
Getting your player ready...
Colorado companies continued to see a very active venture-capital environment with the state having its best first-half period since 2001, according to the latest MoneyTree Report from PwC and CB Insights, out Wednesday.

But a big boost actually came in the first quarter, with a previously overlooked $161 million equity investment into Boulder health care company SomaLogic.

The  by China’s iCarbonX occurred in January and was later confirmed by . SomaLogic, which developed a new way to measure proteins to help monitor a person’s health, employs 200 people, according to Fintan Steele, the company’s Chief of Corporate Communications.

PwC adjusted its  to show Colorado ended first quarter with 45 deals and $515.3 million, the state’s most lucrative quarter since third quarter 2012.

During the second quarter, which ended June 30, venture capital found its way to fewer Colorado companies — 31 for a total of $170 million, according to PwC. Top deals, according to PwC, included Boulder robotic toy maker million; Denver cybersecurity firm ; and $13 million for SyncHR; a of human resources software.

Combined, the first two quarters had 76 Colorado companies attracting $685.3 million in funding, nearly the same amount for the entire 2016, which pulled in $688.8 million.

“For the first two quarters of 2017, venture capital investing in Colorado companies nearly outpaced the investing levels of all of 2016,” said Rob Ward, a PwC partner. “Colorado saw a ‘mega-round’ deal during the first half of 2017 which it hasn’t seen in several years. We continue to see strength in the interest in Colorado companies and their innovation; including cyber security, robotics and mixed reality to name a few.”

Nationwide, venture deals jumped 28 percent to $18.4 billion, compared to the first quarter, thanks to 31 “mega-rounds” of $100 million or more. The number of deals, however, dropped 4 percent to 1,152 since the first quarter.

 

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