L.A. Investments Up 52 Percent from Previous Quarter

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Los Angeles County companies raised $472 million in the second quarter, a 52 percent increase from the previous period, according to the latest Money Tree Report.

The report from PricewaterhouseCoopers and the National Venture Capital Association, which uses quarterly data collected by Thomson Reuters, measures cash-for-equity investments made by venture capitalists in private U.S. companies.

Dr. Patrick Soon-Shiong’s Culver City biotech company NantHealth brought in the 7th largest VC investment nationwide, a $135 million raise in May.

The most active venture and angel investment groups include Tech Coast Angels, with eight investments; Pasadena Angels, with five investments; Upfront Ventures, with four investments; and Redpoint Ventures, with three.

Despite large gains among L.A. startups, funding in Southern California – Los Angeles, Orange and San Diego counties – remained relatively steady at $761 million, down three-tenths of point from first quarter levels.

Statewide, investments in the second quarter boomed, rising by 40 percent to come in at just under $8 billion in funding, nearly two-thirds of the $13 billion raised nationwide.

To see the full report, click here.

Staff reporter Melissah Yang can be reached at [email protected]. Follow her on Twitter @MelissahYang for the latest in L.A. tech news.

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