Venture Scene Heats Up in AZ
August 2, 2012
Phoenix is no Silicon Valley, but the sun also shines on startups outside the Golden State. Arizona-based companies have managed to snag at least a few VC financings every year. In total, they've amassed 58 completed deals since the beginning of 2007, according to the PitchBook Platform. Venture funding in the state hit its nadir in 2010, but has bounced back nicely in the last couple years. Now, 2012's deal count has almost caught up to the fiery heights of 2007, and the total capital invested is blazing far ahead of previous years. Solstice Capital, which is headquartered in Boston but has an office in Tucson, and Tempe, AZ-based Valley Ventures are among the most active Arizona investors.
