Prepared by Capital Hunter analysts
Venture capital investment, which shot up to over $413 million last reporting period, slipped this week, as only $333 million was invested into 38 companies, a week-over-week drop of nearly 20%. California and Massachusetts were the most popular investment destinations, receiving almost 70% of the week’s funding, though California’s share of the pie, 37%, is the lowest it has been in many weeks (but will almost assuredly correct itself in the following weeks). Biotechnology and software were (once again) the most favored sectors for investment, receiving over half of the funding pie. Biotechnology investment was skewed, however, by a $75 million Series E investment into Microbia, a Cambridge-based developer of gastrointestinal and cardiovascular therapeutics. Otherwise it was a pretty vanilla week for private equity investment.
The trend of weak IPO activity continued this week, as there is only a single initial public offering to report. The offering is another one of those blank check companies we talked about last week:
India Globalization Capital, which priced at
$58.9 million on the
AMEX, is a blank-check company organized to acquire businesses with their primary operations in India.
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