JLL: Orange County Life Science Funding Plunges in Q2
The macroeconomic picture is causing investors to pull back as total tech and life science funding in the second quarter in Orange County saw a 44% decline compared to Q1, to the lowest number of the past two years. According to the new report from JLL, Q2 investments were $367 million and year-to-date funding in OC stands at $1.1 billion.
Only 14 companies received investment in Q2, a sizable drop from the average of 26 since 2020. Overair, a company that specializes in electric vertical takeoff and landing vehicles, received $145 million, accounting for nearly 40% of the second quarter’s total funding.
Other companies that received significant funding in Q2 include Tarsus Pharmaceuticals, Beilai Bio, The Change Company and Sensible Care. JLL reports that at $269 million, venture series investments were the primary type of funding in the second quarter, followed by post-IPO equity.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.