Link: BT Catalyst: N.C. places 3rd nationally in biotech fundings: state ranks among Top 10 in venture investing.
fundings: state ranks among Top 10 in venture investing
BT Catalyst, May, 2003
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The Council for Entrepreneurial Development (CED) recently released its 2002 Annual Venture Report showing North Carolina's rise to third place nationally for overall life-science investments. The state also climbed to ninth place in overall venture capital investments.
Compiled from data generated by PricewaterhouseCoopers, Venture Economics and the National Venture Capital Association, the annual report included the following highlights:
* In 2002, North Carolina ranked third nationally for total dollars raised by life-science companies. The $284.77 million raised accounted for 50.2 percent of the total capital raised in the state.
* North Carolina placed ninth in 2002 for total dollars raised, compared to 16th in 2001. Local companies received $567.44 million in venture capital investments, which represents a decline of more than 18 percent from 2001. However, venture investments nationwide declined more than 49 percent from $44 billion in 2001 to $21 billion in 2002.
* The Piedmont Triad area received a greater portion of the state's equity dollars than in years past. The area closed%2