Prepared by: Dante Fichera

This reporting period was slow in the venture capital market but was a hot week on Wall Street with 4 IPOs since last Friday.

Available at no cost at our website Click Here are the Q1 2004 studies of venture capital activity for Colorado, Washington, Silicon Valley, San Diego and Massachusetts. You can download the studies in a PDF format from the archives section of our website at no cost to you. The Q1 2004 Southern California study will be available soon.

Below is an article written by Mike Allen at the Denver Business Journal on Q1 2004 venture capital activity in Colorado:

Denver Business Journal Article

Below is an article written by Jeff Meisner at the Seattle Business Journal on Q1 2004 venture capital activity in Washington:

Seattle Business Journal Article

Over $235 million of venture capital was invested in 20 U.S.-based companies during this reporting period. The average deal size was approximately $11.75 million. The amount of venture capital invested this period is down by 39% from last week’s $387million.

Geographically, 4 Massachusetts companies raised $79 million in venture financings. The largest venture financing in Massachusetts this period was into Microbia, Inc. for $40 million. Microbia, Inc. is a Cambridge based company that develops antimicrobial/antifungal drugs and microbial drug production treating biofilm surface-attached sources of pathogens.

The biotechnology sector raised 51% of the venture capital this period. 4 biotechnology companies raised over $120 million in venture financings. The largest venture financings are by two biotechnology companies this reporting period: Acologix, Inc. and by Microbia, Inc. for $40 million each. Acologix, Inc. is headquartered in Emeryville, CA and targets the treatment of the diseases and disorders in "osteo-renal" area that are osteoporosis, periodontal/dental diseases, chronic renal failure, and others.

Companies raising their Series B round led this weeks venture capital activity. Series B companies represented 37% of the total venture capital deployed this period. The largest Series B financing was into Acologix, Inc.

Venture Capitalists funding the Top Three Deals

The following eighteen investors funded the above mentioned top three venture capital investments in excess of $108 million:

A total of 57 equity financings of private and public companies occurred during this reporting period. Each of the 57 equity financings are profiled in a weekly report as well as over 30,000 other historic equity financings that you can obtain as a subscriber.

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