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NEWLY FUNDED COMPANIES - July 11th thru July 17th

Total debt and equity financings in the United States increased this reporting period by 244% to $3.536 billion, compared to last week $1.027 billion. From the total 59 U.S. companies financed, 33 are privately held and 26 are publicly traded companies. Of these companies, 47 of them raised equity capital and 12 secured debt financing. Below you will find a break down of this week's financings in the United States, Canada, and internationally:

61 - U.S. COMPANIES RECEIVED EQUITY INVESTMENTS

Total equity capital raised by 59 U.S. companies this week was $679 million. Below you will find how the equity investments were distributed by Geography, Industry and Stage of Development for the week:

GEOGRAPHY

Fifteen California companies received 37% of the total $679 million in equity raised in the United States. California companies received $256.87 million this week which is a 37% increase in the amount of equity raised during the prior week. One of the largest equity deals done in California this period was Tercica Medica Inc., a biotech company, for a total of $44 million in a Series B round from venture investors: Care Capital, MPM Capital, Prospect Venture Partners, and MedImmune Ventures.

Note: States that received equity funding less than $10 million was included with the OTHER category.

INDUSTRY

Software companies received 16% of the total $679 million in equity raised in the United States this period. The Software industry received $113.4 million this period which is 141% more than what was raised during the last reporting period. One of the largest equity deals done in the Software industry this period was InterVideo, Inc. for a total of $39.2 million in an Initial Public Offering on the NASDAQ exchange.

Note: Industries that received equity funding of $15 million or less were included with the OTHER category.

STAGE OF DEVELOPMENT

Later stage privately held companies received 37% of the total $679 million in equity raised in the United States this period. Later stage companies raised $253 million this period which is 1% less than what was raised in this category during the prior week. The largest later stage company was Fiberlink Communications, Corp. which raised $50 million in equity from venture capitalist, strategic investors and private equity firms: GE Equity, Goldman Sachs, NewSpring Ventures, Edison Ventures, Comerica Bank, and Technology CrossOver Ventures.

32 - U.S. VENTURE BACKED COMPANIES RECEIVED EQUITY INVESTMENTS

Venture capitalists in the United States invested 19% more this period compared to last week and funded 32 Companies for a total of $375 million. The average venture capital deal size this week was approximately $11.72 million. Below you will find the Year to Date trends for Venture Capital investments in the United States:

QUARTERLY OVERVIEW FOR U.S. AND CANADA

A total of 652 deals for a total of $28.918 billion in debt and equity investments were made in Q2 2003 which is a decrease of 30% compared to the 807 deals funded in Q1 2003. Venture capital financings totaled $3.406 billion in Q2 2003 which is an increase of 6% over total venture financings in Q1 2003. If you would like to receive a detailed quarterly analysis of any of the following regions feel free to contact us for your complimentary overview: San Francisco, San Jose, Palo Alto, San Diego, New York City, Chicago, Boston, Austin, Seattle, Los Angeles, and Washington DC.

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