Capital Invested in WA's Healthcare Industry Surges, Again
July 07, 2014
In April 2013, PitchBook News published a story regarding Washington state's healthcare industry and its increased portion of venture capital invested in the state, which is normally dominated by the IT space. After the first quarter of 2013 (and about a week into 2Q), Washington's healthcare industry accounted for about 40% of the total capital invested in the state, with IT following behind at 31%. At year's end, however, the numbers fell back in line with how they had been for several consecutive years prior, with IT taking the lion's share of capital invested (55%) and healthcare finishing at 20%.
If the trend didn't stick last year, maybe it will this year; through the first two quarters of 2014, Washington's healthcare industry has again led the way, accounting for 46% of venture capital invested in the state, compared to 37% for IT, according to the PitchBook Platform. At the same mark last year, IT had already overtaken healthcare, doubling its portion of capital intake. Helping out The Evergreen State's healthcare space so far this year were two massive April deals for Juno Therapeutics and Adaptive Biotechnologies, which raised $176 million and $105 million, respectively. It will be interesting to see if Washington's healthcare industry can hang on to its lead to the end of the year, but its position halfway through 2014 is surely noteworthy.