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California  + San Diego  + Finance  | 
MSHP and Sixth Street Launch Medical Office Platform

Local Firms Boost VC Funding by $2.3B in Q1

San Diego companies raised $2.3 billion in venture capital funding in first quarter 2021, the second highest quarter of funding raised on record after $2.6 billion in fourth quarter 2020, according to the latest report by CBRE. Life science companies brought in $1.82 billion, just shy of the previous record-breaking $1.87 billion raised back in 2020.

Biotech/pharma raised the majority with $1.76 billion, generated primarily by eight deals of $100 million or greater. Tech companies raised $470.3 million in the quarter, the second-highest funding raised on record after fourth quarter 2020 ($762 million). This is in line with a continuing upward trend of interest and investment in the tech sector starting in 2018.

Software/web companies continued to raise most of the tech funding with $349 million. Tech activity in first quarter included 11 deals of $10 million or greater, three of which were more than $50 million.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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