Texas-Sized VC Deals, Y'all!
December 20, 2012
They say everything is bigger in Texas: football stadiums, pickup trucks, belt buckles, linebackers, hats, tumbleweeds, hair… and now, according to the PitchBook Platform, this expansive list includes venture capital deals. Of the 120 VC deals that have taken place in Texas in 2012 to date, only 10 were seed-stage financings—and while the average seeding wasn’t exactly itty bitty ($450,000), the real Texas-sized deals fell in the later-stage rounds. With an average deal size of $8.6 million, later-stage financings made up more than a third of the state’s total deals this year. Early-stage investments also made an impressive showing—more in quantity than in deal size—with an average of $3 million per deal, and representing 54 of the 120 total transactions. Austin Ventures was by far the biggest player in the Texan VC game, with 15 active investments, followed by DFJ Mercury with six.
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