Big Wave of Q2 VC Funding Washes Ashore in San Diego with $222M

Xconomy San Diego — 

So how did San Diego fare as the biggest wave of venture capital funding in 13 years swept across the United States, sloshing capital into startups from Silicon Valley to New York, and from Seattle to Houston?

The answer is just OK.

Venture capital firms invested a total of $222.4 million in 26 deals in the San Diego area during the second quarter of 2014, according to the MoneyTree Report from PricewaterhouseCoopers, the National Venture Capital Association, and Thomson Reuters. The amount of dollars invested in San Diego declined by 15 percent from the $261.4 million that VCs put into 26 startups during the previous quarter, according to MoneyTree data. But it was a 22 percent gain from the $182.2 million that VCs put into 20 deals during the year-ago quarter of 2013.

(San Diego’s list of second-quarter Top 10 Deals is listed below.)

As we reported last week, VCs invested almost $13 billion into 1,114 U.S. startups nationwide during the second quarter, marking the biggest quarterly investment total since $13.1 billion was invested in the first quarter of 2001.

But the big nationwide surge wasn’t apparent in the MoneyTree data for San Diego. In fact, venture investing in San Diego so far this year is more characteristic of 2012, when the average quarterly investment was $239 million, than of 2001, when the average was $395 million a quarter (without factoring for inflation).

The breakout of second-quarter MoneyTree data shows that two-thirds of the $222.4 million invested in San Diego went into life sciences companies like Otonomy, which raised $49 million, and Cidara Therapeutics, which got $32 million. VCs invested a total of $27 million in nine San Diego software companies, with $20 million of that going to … Next Page »

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