Bay Area Reverses Decline in VC Investment in 1Q 2014
April 02, 2014
The San Francisco Bay Area reversed a three-quarter decline in venture capital financings, as VC firms poured $5.0 billion across 321 deals in 1Q 2014, both increases over 4Q 2013’s figures, early quarter-end PitchBook data show. The number of VC deals had dropped dramatically from a recent high of 392 in 2Q 2013 to 305 in 4Q 2013, but a resurgence in Bay Area software investing (152 rounds totaling $3.3 billion in 1Q), led by mega-financings for Cloudera, Tango, Palantir Technologies and Lyft, helped increase overall deal flow in the region. The $3.3 billion raised by Bay Area software companies in 1Q 2014 is the biggest quarterly total ever.
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