$472M in VC Funding for San Diego
San Diego firms received $472 million of VC investment in Q3 2017, up 19.4% from Q2 2017 and 51.4% from Q3 2016, according to data from CBRE Research, PwC/CB Insights MoneyTree Report and Mattermark. There were 25 deals executed this quarter, which is just below the three-year average of 28 deals per quarter, but deal sizes were much larger, driving the total to a recent high mark.
Venture capital activity slowed in 2016, after a particularly strong 2015. The 2017 year-to-date total already exceeds the $1 billion mark, and has nearly passed the 2016 annual total. In Q3 2017, there were also 27 M&A deals announced or completed.
Tech companies in San Diego scored 11 deals totaling $244 million, more than three times the amount from Q2 2017. Software and web companies received the bulk of the investment at $237 million.
Life science companies received $180 million in investments from 11 deals. This figure was down 44.3% from Q2 2017, but up 47.8% from Q3 2016. Medical device and diagnostic companies received $49 million in Q3, compared to $131 million that went to biotech / pharmaceutical companies.
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