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  • $5.3 billion invested in 714 companies in the Q3 2005, down from $6.1 billion invested in Q2 2005 But, higher than Q1 2005 of $5.0 billion and Q3 2004 of $4.6 billion. For the first nine months of 2005, investing totaled $16.3 billion compared to $15.9 billion for the first nine months of 2004. On track to break some post-bubble records: Total venture capital investing in calendar 2005 could meet or exceed 2002’s $21.7 billion which is the highest level in the prior three years. Investments in Later stage companies rose to $2.6 billion – a four-year high -- following the upward trend that began in late 2004. Life Sciences continued its dominance with $1.6 billion in Q3, on track to equal or better calendar 2004 which was a three-year high. Within the Telecommunications industry, the Wireless sub-category jumped to $455 million, also a four-year high.
  • Silicon Valley broke the $2 billion mark for the first time in a year and accounted for nearly 40% of all venture capital invested in the U.S. New England was second behind Silicon Valley, capturing $612 million in Q3 The Southeast was third with $461 million going into 59 deals during the quarter Rounding out the top 5 are LA/Orange County with $340 million and NY Metro with $249 million
  • Life Sciences continues it’s dominance The Life Sciences sector (Biotechnology and Medical Devices industries, together) outpaced the prior quarter with $1.6 billion invested in 155 companies in the third quarter. Although the Telecommunications industry category has languished in recent years, the Wireless sub-category has shown steady growth. Year-to-date, 114 wireless-related companies received $984 million compared to full-year 2004 of 135 companies and $1.1 billion. Notably, the two largest deals of the quarter were wireless-related companies. FiberTower Corporation – received $150 million in Q3 Visto Corporation – received $70 million in Q3 The Software industry dipped in the third quarter, but retained its position as the largest single industry category with 185 companies capturing $1.0 billion. Year-to-date, Software amounted to $3.5 billion in 627 companies, lagging full-year 2004 with 881 companies and $5.2 billion.
  • For the first nine months 2005, Life Sciences accounted for $4.2 billion or 26% of all venture investing. At the current rate, Life Sciences will meet or exceed 2004’s total of $5.8 billion.
  • The sustained dominance of Later stage investing over the past 12 months reflects venture capitalists continued support of existing portfolio companies via additional follow-on rounds. In the third quarter, Later stage funding rose slightly to $2.6 billion going into 248 companies. Year-to-date 2005, Later stage amounted to $7.2 billion, approaching full-year 2004 figures of $7.6 billion which was a three-year peak. Funding for Start-Up and Early stage companies fell back in Q3 to $1.0 billion 216 companies, but still above the first quarter. However, the year-to-date 2005 totals of $3.2 billion and 697 deals are on track to match full-year 2004 of $4.3 billion and 1028 deals. Investing in Expansion stage companies fell to its lowest point of the year in the third quarter; $1.6 billion in 250 companies. Year-to-date figures of $6.0 billion and 825 deals point to a full-year 2005 that will be significantly lower than 2004 of $9.7 billion and 1,217 deals.
  • Venture capitalists continued to make new investments at a steady clip in the third quarter. A total of 215 companies got their first-ever round of institutional venture capital which amounted to $1.1 billion. Year-to-date, 653 companies received their first venture capital for a total of $4.0 billion. Full-year 2004 figures of 854 companies and $4.6 billion were both three-year highs, putting 2005 on track to a four-year high.
  • The most first-time deals were in the Software industry and Life Sciences sector with 46 companies in each. For the first nine months 166 Software companies got institutional venture capital for the first time, or 25% of all first-time deals. Life Sciences followed closely with 120, or 18%. First-time Telecommunications investing reached a four-year high with 26 deals, reflecting renewed interest in the wireless arena. Media & Entertainment and Industrial/Energy followed with 13 deals each. First sequence investing in other industries generally mirrored the pattern of overall industry investing.
  • Year-to-date, the most first-time financings, 69%, went to Start-Up and Early stage companies. Expansion stage companies were 26% and Later stage 5%.
  • Average post-money valuations of Early stage companies were essentially flat at $14.4 million for the 12 months ending Q2 2005 compared to $14.2 million for the period ending Q1 2005. (Note that valuation data lags investment data by one quarter.)
  • Average post-money valuations dropped to $46.2 million versus $53.3 million for the prior period.
  • The average post-money valuation rose to $78.9 million for the 12 months ending Q2 2005 compared to $63.2 million for the Q1 2005 period.
  • The most recent performance data available is from the 1 st quarter of 2005. Short-term venture capital performance showed signs of fluctuation at the close of the 1 st quarter of 2005 with a decline in the 1 and 5 year investment horizons and an improvement in the 3 year horizon. Despite the short-term swing, the 10 and 20 year horizon returns remained constant for venture capital for the period ending 3/31/05 at 25.4% and 15.6% respectively. For the same time horizon, buyout funds returned 8.7% and 13%. All private equity continued to outperform both the NASDAQ and the S&P 500 for the long-term with a 12.5% ten year return.
  • 19 VC-backed companies raised $1.5b through IPOs, and 76 vc-backed companies were acquired in the third quarter of 2005. Q3 marks the first time in 2005 that the total venture-backed IPO offering amount has been over $1 billion. The technology sector led the quarter with 9 venture-backed IPOs raising a total of $759.1 million. In addition to the IPOs completed this quarter, there are currently 30 venture-backed companies in-registration with the SEC. This figure is down from the 38 in-registration at the end of the second quarter.
  • The private equity fundraising climate remained robust in Q3 2005 with 45 venture funds raising $5.4 billion and 45 buyout & mezzanine funds fetching $16.8 billion. While the quarterly totals represented a fall off in activity from a strong 2 nd quarter, the average venture fund size continued to remain strong at $119 million. After the 3 quarters of this year, both venture and buyout fundraising levels have already surpassed 2004 levels.

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  • PricewaterhouseCoopers/ National Venture Capital Association MoneyTree™ Report based on data from Thomson Financial Shaking the MoneyTree ™ Raleigh, NC May 2007 Q1 2007 Update May 2007
  • Today’s program
    • The MoneyTree Report – Q1 2007 Analysis
      • presented by Laura Hoke, PricewaterhouseCoopers LLP
    • Venture Capital Panel
      • Michael Elliott, Noro-Moseley
      • Steve Nelson, Wakefield Group
    • Question and Answer Session
    1) 2) 3)
  • Speaker Bios
  • Laura Hoke Laura is a senior manager in the Raleigh office of PricewaterhouseCoopers ("PwC"), where she is responsible for providing a range of audit, business advisory and consulting services. She has extensive experience in the software industry, as well as other technology-backed industries including biotech, pharmaceutical and professional services. In addition to her audit and business advisory services, Laura has significant SEC experience, including several initial public offerings. She has been involved in numerous Sarbanes Oxley projects and has led the 404 implementation efforts at several organizations. Laura rejoined PwC’s Raleigh office after serving as the Corporate Controller for a global software company, where she was responsible for the domestic and international accounting functions, as well as the development, implementation and maintenance of the internal control structure. Laura has extensive experience in mergers and acquisitions and was responsible for the integration of acquisitions for a global distribution and manufacturing company. Laura’s primary client is Lenovo Group, Limited although she participates on several other technology-backed engagements throughout the Carolinas. Laura graduated with a B.S. from Virginia Tech, is a member of the AICPA and the North Carolina Association of Certified Public Accountants. She also serves on the Board of Directors of Artspace, a nonprofit visual arts center in downtown Raleigh.
  • Mike Elliott Mike Elliott joined NMP in early 2005 with 21 years of successful venture capital investment experience. Mike spent the last eight years as a Managing Director of The Wakefield Group, a private venture firm based in Charlotte, North Carolina with an investment focus similar to that of NMP. Mike invested primarily in technology and business services companies, at early and growth stages of development, and will continue that focus in his deployment of Fund VI. Several of The Wakefield Group’s investments were syndicated co-investments with several of the Prior Funds. Prior to his service at The Wakefield Group, Mike was a Managing Director of NationsBank Capital (now Bank of America Capital Investors), Bank of America’s private equity investment arm, where he managed large financings of later-stage growth companies. He began his venture investment career as a founding partner of NCNB Venture Co., L.P., the venture investment arm of NCNB, the predecessor of Bank of America. During his venture career, Mike has been an active board member and sponsor of several highly successful ventures, including Affiliated Managers (NYSE: AMG), Redgate Communications (sold to AOL), Medic Computer Systems (sold to Misys), OpenSite Technologies (sold to Siebel Systems), SciQuest (Nasdaq: SQST) and Serologicals (Nasdaq: SERO). During his nine years as a partner at NCNB Ventures starting in 1985, Mike returned 3.4x capital, generating a 29% gross IRR for investments he sponsored. During his three years as a Managing Director at NationsBank Capital, he led growth company financings generating a 25% gross IRR and returning 2.1x capital. While at The Wakefield Group, he sponsored transactions generating a 37% gross IRR, returning 1.5x capital. Mike’s experience and known culture fit with the NMP team make him an ideal addition to the Firm and the Fund VI team. Mike is extensively involved in North Carolina’s entrepreneurial community, having served in many leadership roles, including the Executive Committee of the NASBIC Board of Governors and as a board member of the Council for Entrepreneurial Development in Research Triangle Park. Mike received a BS in mathematics and an MBA from the University of North Carolina, where he was both a Morehead Scholar and Maurice Lee Fellow.
  • Steve Nelson Steve Nelson joined Wakefield Group in October 1999 as Managing Director and Partner. He established the venture capital firm’s Research Triangle Park, NC office. Steve joined Wakefield after 19 years of executive and general management experience in technology, software and Internet-based businesses. During the last three years of his career before starting in venture capital, Steve was at Quokka Sports, a digital media company, in several executive capacities. Quokka raised over $140m in capital and successfully completed an IPO in July, 1999. Steve served as chief executive of a joint venture company between NBC Sports and Quokka Sports, NBC/Quokka Ventures, LLC. Prior to Quokka, Steve served as a Vice President with Informix Software, based in Menlo Park, CA. His first business experience was 14-plus years at IBM, ultimately as Vice President and General Manager in San Francisco where he had executive and P&L responsibility for all customers in the eleven western states, all IBM products and services, 800 employees, $2.2B in revenues and several hundred million dollars in profit. Steve is a member of the board of directors and the executive committee at Motricity. He is also Wakefield’s board representative for Liquidia Technologies where he is also interim CEO, Integrian, Constella Group, Near-Time, rPath, APEX Analytix, and BlueCross BlueShield of North Carolina. He was a past Chairman of North Carolina’s Council for Entrepreneurial Development (CED), and is a member of the Investment Advisory Committee for the State Treasurer of North Carolina and helps oversee their $74B portfolio. Steve received his B.S. degree in Business from Wake Forest University.
  • About The Report
      • PricewaterhouseCoopers and the National Venture Capital Association produce the MoneyTree Report™ based on data from Thomson Financial
      • ‘ Core’ measure of equity investments in venture-backed companies in the United States
      • Companies have received at least one round of financing involving a professional VC firm or equivalent
      • Captures: tranches, not term sheets, foreign VCs, qualified private placement
      • Excludes: debt, bridge loans, recaps, roll-ups, IPOs, PIPEs, leasing, etc.
      • MoneyTree™ Report in its 13th year
      • Results online at www.pwcmoneytree.com, www.nvca.org, www.venturexpert.com
  • The National Picture Historical Trends
  • MoneyTree Total Investments: Q1 1998 – Q1 2007 2007 853 Q1 2006 778 Q1 884 Q4 875 Q3 910 Q2 720 Q1 774 Q3 812 Q2 801 Q4 2005 # of Deals 817 Q4 678 Q3 844 Q2 702 Q1 2004 2003 2002 2001 2000 1999 1998 774 Q4 705 Q3 735 Q2 690 Q1 722 Q4 687 Q3 846 Q2 831 Q1 977 Q4 1002 Q3 1225 Q2 1289 Q1 1745 Q4 1933 Q3 2105 Q2 2131 Q1 1868 Q4 1422 Q3 1304 Q2 916 Q1 990 Q4 910 Q3 901 Q2 843 Q1
  • MoneyTree Total Investments: 1980 – YTD Q1 2007 Annual Venture Capital Investments 1980 to YTD Q1 2007
  • Investments by Region: Q1 2007 Texas $277.6 34 Deals Silicon Valley $2,165.1 244 Deals New England $975.5 95 Deals Midwest $280.5 43 Deals South Central $3.0 3 Deals Northwest $456.7 42 Deals Sacramento/N. CA $30.1 6 Deals San Diego $686.3 44 Deals Southeast $579.3 54 Deals Southwest $121.8 22 Deals LA/Orange County $526.0 40 Deals DC/Metroplex $197.2 41 Deals NY Metro $360.5 48 Deals Philadelphia Metro $204.8 34 Deals North Central $79.8 10 Deals Q1 2007 Total Investments - $7,056 in 778 Deals Colorado $100.4 13 Deals AK/HI/PR $0.2 1 Deal Upstate NY $11.1 4 Deals
  • Investments by Region: Q1 2007 Q1 2007 Total: $7,056 in 778 Deals NM = Not Meaningful 48.81% 34 Philadelphia Metro 13.47% 778 Total AK/HI/PR South Central Upstate NY Sacramento/N.Cal North Central Colorado South West DC/Metroplex Texas Midwest NY Metro Northwest LA/Orange County Southeast San Diego New England Silicon Valley Region -98.36% 1 -83.10% 3 -71.45% 4 329.78% 6 -18.07% 10 35.85% 13 127.38% 22 5.29% 41 61.06% 34 15.13% 43 -39.90% 48 26.51% 40 52.30% 42 54.05% 54 73.91% 44 29.14% 95 -7.28% 244 % Change $ from Q4 ‘06 # of Deals
  • Investments by Region – Quarterly Percent of Total U.S. Investments Top U.S. Regions Q1 ‘06– Q1’07
  • Q1 2007 Top 10 States Garnering Venture Funds State Deals Investment Amount 1. California 334 $ 3,407,455,800 2. Massachusetts 84 $ 901,224,000 3. Washington 33 $ 365,881,600 4. Texas 34 $ 277,607,300 5. New York 34 $ 261,279,800 6. North Carolina 16 $ 224,816,300 7. Pennsylvania 34 $ 199,643,300 8. Florida 13 $ 150,833,600 9. Illinois 17 $ 134,887,000 10. New Jersey 18 $ 108,627,900
  • Investments by Industry: Q1 2007 Q1 2007 Total: $7,056 in 778 Deals Visit www.pwcmoneytree.com for Industry definitions NM = Not Meaningful NM 1 Undisclosed/Other 13.47% 778 TOTAL Consumer Products and Services Financial Services Computers and Peripherals Retailing/Distribution Healthcare Services Electronics/Instrumentation Business Products and Services Networking & Equipment IT Services Semiconductors Media & Entertainment Industrial/Energy Telecommunications Medical Devices & Equipment Software Biotechnology Industry -67.91% 12 20.43% 17 61.92% 9 56.71% 12 20.86% 10 77.64% 16 37.12% 22 31.45% 29 7.60% 38 -26.07% 42 20.50% 44 16.47% 72 27.19% 63 59.83% 96 -10.29% 193 19.65% 102 % Change $ from Q4 ‘06 # of Deals
  • Investments by Industry – Quarterly Percent of Total U.S. Investments Top 5 Industries – Q1 ‘06 to Q1 ‘07
  • Life Science Investments – Percent of Total U.S. Investments* Life Science Sectors – Q1 ’06 to Q1 ‘07
  • Investments by Stage of Development: Q1 2007 Q1 2007 Totals: $7,056 in 778 Deals 13.47% 778 Total Startup/Seed Early Stage Expansion Stage Later Stage Stage of Development -39.29% 71 -28.48% 188 8.57% 274 56.72% 245 % Change in $ Amount from Q4 2006 # of Deals
  • Stage of Development – Quarterly Percent of Total First Sequence Dollars Stage Development – Q1 2006 to Q1 2007
  • Stage of Development – Quarterly Percent of Total First Sequence Deals Stage Development – Q1 2006 to Q1 2007
  • Investments by Sequence of Financing: Q1 2007 Q1 2007 Totals: $7,056 in 778 Deals 23.39% 192 Fifth & Beyond 13.41% 85 Fourth 13.47% 778 Total Third Second First Financing 18.87% 115 4.30% 163 6.09% 223 % Change in $ Amount from Q4 2006 # of Deals
  • First Sequence Financing – Investment Amount First Sequence Investments
  • First Sequence Financing – Number of Deals First Sequence Deals ($ in billions)
  • First Sequence Financing – Percent of Total U.S. Investments
  • First Sequence Deals in Startup & Early Stage Companies
  • Median Deal Size vs. Mean Deal Size – Quarterly Total U.S. Investments
  • Post-Money Valuations – Early Stage Companies 1997 to 2006 12 Month Average $11.13 2006 $15.37 2004 $15.52 2005 $14.13 2003 $15.41 2002 $27.92 2001 $36.22 2000 $25.41 1999 $24.30 1998 $17.55 1997 Total Year
  • Post-Money Valuations – Expansion Stage Companies 1997 to 2006 12 Month Average $68.90 2006 $60.87 2004 $60.62 2005 $43.46 2003 $45.89 2002 $62.33 2001 $108.99 2000 $79.43 1999 $43.02 1998 $38.88 1997 Total Year
  • Post-Money Valuations – Later Stage Companies 1997 to 2006 12 Month Average $95.33 2006 $73.17 2004 $95.29 2005 $68.71 2003 $65.44 2002 $98.87 2001 $159.40 2000 $125.87 1999 $65.97 1998 $70.58 1997 Total Year
  • Q1 2007 – Most Active Venture Investors 15 Menlo Park, California Menlo Ventures 16 Westport, Connecticut Canaan Partners 15 Santa Clara, California Intel Capital 14 New York, New York Venrock Associates 14 Chicago, Illinois ARCH Venture Partners 15 Menlo Park, California Sequoia Capital 17 Menlo Park, California Draper Fisher Jurvetson 18 Baltimore, Maryland New Enterprise Associates 18 San Francisco, California Alta Partners Total Deals Location Venture Capital Firm
  • Thomson Financial U.S. Private Equity Performance Index (PEPI) (Investment Horizon Performance as of 12/31/2006) Source: Thomson Financial/National Venture Capital Association *Data as of 4/13/2007--The Private Equity Performance Index (PEPI) is based on the latest quarterly statistics from the Thomson Financial Private Equity Performance Database analyzing the cashflows and returns for over 1860 US venture capital and private equity partnerships with a capitalization of $679 billion. Sources are financial documents and schedules from Limited Partners investors and General Partners. All returns are calculated by Thomson Financial from the underlying financial cashflows. Returns are net to investors after management fees and carried interest. 9.2 6.6 4.2 8.2 10.8 S&P 500 10.1 6.4 4.3 6.2 4.7 NASDAQ 13.9 8.5 12.9 16.6 14.0 14.6 20.5 20 Year 11.0 6.1 8.5 20.3 9.0 17.6 36.4 10 Year 7.5 4.1 10.4 1.0 3.7 4.1 -3.0 5 Year 12.7 5.0 14.6 9.1 9.4 11.7 6.5 3 Year 23.3 All Private Equity 12.6 Mezzanine 24.5 All Buyouts 16.4 All Venture 25.2 Later Stage VC 20.5 Balanced VC 9.9 Early/Seed VC 1 Year Fund Type
  • Analysis of Venture-Backed IPO and M&A Activity* * Q1 2007 M&A data, current as of April 2, 2007, is preliminary and subject to change ** Includes all companies with at least one U.S. VC investor that trade on U.S. exchanges, regardless of domicile ***Only accounts for deals with disclosed values Source: Thomson Financial/ National Venture Capital Association 113.3 340 89.8 5,117.1 57 2006 161.2 62 123.1 2,091.9 17 2007 Q1 161.2 62 123.1 2,091.9 17 2007 95.8 347 79.7 4,461.0 56 2005 165.3 57 81.6 1,631.1 20 2006 Q4 95.6 87 116.8 934.2 8 2006 Q3 101.3 92 105.8 2,011.0 19 2006 Q2 112.2 104 54.1 540.8 10 2006 Q1 62.8 291 69.8 2,022.7 29 2003 83.0 339 118.4 11,014.9 93 2004 Average M&A deal size*** Number of Venture-backed M&A deals Average Venture-Backed Offering Size ($M) Total Venture-Backed Offering Size ($M) Number of IPOs** Date
  • Venture Capital Fundraising* Source: Thomson Financial/National Venture Capital Association *These figures take into account the subtractive effect of downsized funds Date current as of 4/16/07 30,260.4 212 168 44 2006 4,143.4 56 42 14 Q4 ‘06 13 13 13 17 13 55 56 50 57 First Time Funds 43 52 59 55 43 163 149 97 115 Follow-On Funds 5,426.0 65 Q3 ‘06 14,050.9 72 Q2 ‘06 6,640.1 72 Q1 ‘06 4,939.8 56 2007 YTD 4,939.8 56 Q1 ‘07 Quarter 27,957.3 218 2005 18,566.0 205 2004 10,622.3 3,767.4 VC Raised ($M) 147 2003 172 2002 Total Number of Funds Year
  • North Carolina Picture Historical Trends
  • MoneyTree Total North Carolina Investments 2000 – Q1 2007 2000 2001 2002 2003 2004 # of Deals 2005 2006 2007 34 31 24 15 18 15 42 38 40 22 14 20 23 22 20 14 28 14 20 9 11 13 18 19 16 15 10 20 16 ($ in millions)
  • # of Deals 154 91 85 76 57 16 52 70 MoneyTree Total North Carolina Investments – 2000 – Q1 2007 ($ in millions)
  • Amount Invested (in millions) $1,830 $590 $553 $356 $337 $225 $417 $510 MoneyTree Total North Carolina Deals– 2000 – Q1 2007 ($ in millions)
  • Total Deals Q1 2007 % Change in $ Amount from Q1 2006 ($ in millions) Industry Definitions @ www.pwcmoneytree.com Q3 2003 Total: $98.5 2 2 1 100% (41.2%) Total North Carolina Investments by Industry – Q1 2007 Q1 2007 Total: $224.8 1 $5.2 7 1 2 1 2 45.5% 100.0% 142.2% 138.1% 845.5% 100.0% (40.2%)
  • ($ in millions) Amount Invested (in millions) $272 $367 $822 $1,877 $641 $44 $622 $368 Biotechnology Investments in NC vs. U.S. 2000 – Q1 2007 21 17 17 17 20 7 15 17 # of Deals 5.9%
  • ($ in millions) Amount Invested (in millions) $272 $367 $822 $1,877 $641 $44 $622 $368 Software Investments in NC vs. U.S. 2000 – Q1 2007 36 25 24 21 18 2 8 11 # of Deals 0.4% $7
  • Average Deal Size – NC vs. U.S. 2000 – Q1 2007 ($ in millions)
  • 6 th Sense Analytics, Inc. Software $ 5,000,000 AlphaVax, Inc. Biotechnology $ 12,650,000 Chimerix, Inc. Biotechnology $ 23,099,900 HyperBranch Medical Technology, Inc. Medical Devices & Equipment $ 2,000,000 InnerPulse, Inc. Medical Devices & Equipment $ 50,000,500 Liquidia Technologies, Inc. Industrial/Energy $ 15,999,900 Motricity Telecommunications $ 50,000,000 Nextreme Thermal Solutions, Inc. Electronics/Instrumentation $ 5,292,000 Phase Bioscience, Inc. Biotechnology $ 1,250,100 Regado Biosciences, Inc. Biotechnology $ 23,000,200 rPath, Inc . Software $ 1,749,900 Serenex, Inc. Biotechnology $ 13,999,800 StrikeIron, Inc. IT Services $ 5,000,000 Tranzyme Pharma, Inc. Biotechnology $ 11,000,000 Unit Dose Solutions, Inc. Biotechnology $ 2,500,000 XDS, Inc. IT Services IT Services $ 2,274,000 $ 224,816,300 North Carolina Companies Funded in Q1 2007 Company Name Amount Industry
  • VC Funds Active in North Carolina BancAmerica Capital Investors BB&T Capital Partners CapitalSouth Partners LLC Carolina Financial Group Carousel Capital Partners Centura SBIC Inc. Core Capital Fairview Capital LLC First Union Ventures Group Franklin Street Partners Frontier Capital LLC Gardiner Capital Glenwood Venture Partners Golden Pine Ventures Grotech Capital Group Halifax Group Hatteras BioCapital H.I.G. Ventures Intersouth Partners Kodiak Venture Partners Lovett Miller & Company, Inc. Massey Burch NC IDEA New Enterprise Associates Noro-Moseley Partners Novak Biddle Venture Partners Pappas Ventures Piedmont Angel Network Remington Capital Partners Research Triangle Ventures River Cities Capital Funds SJF Ventures Southern Capitol Ventures Southeast Interactive Technology Funds The Atlantis Group The North Carolina Enterprise Fund The Aurora Funds The Trelys Funds TriState Investment Group Wachovia Capital Partners Wakefield Group Venture First Associates
  • Entrepreneurs and Venture Capital On-Line Resource List www.pwc.com - The PricewaterhouseCoopers Global website. www.pwcmoneytree.com , www.nvca.org, www.ventureeconomics.com - The PricewaterhouseCoopers/National Venture Capital Association MoneyTree TM Report based on data from Thomson Financial is a quarterly study of equity investments made by the venture capital community in private companies in the U.S. The survey identifies regional and national trends, entrepreneurial developments and promising industry segments. www.pwcnextwave.com - PricewaterhouseCoopers’ thought leadership articles for the world of private equity. www.cfodirect.com - CFOdirect Network – PricewaterhouseCoopers’ online accounting, finance and business resource for senior financial executives. www.pwcV2R.com - The Vision to Reality Entrepreneur Resource Center site offers proven business plan templates, financial models, technology-specific ratios, benchmarks and more. www.pwcvc.com - The VC BestPractices site serves to provide an aggregate, comparative view of key issues and activities impacting the venture capital community, and to identify best practices. www.barometersurveys.com - PricewaterhouseCoopers’ Trendsetter and Technology Barometers site – result & analysis of the quarterly survey of fast-growth and large company CEO’s. www.cednc.org - The Council for Entrepreneurial Development www.nc-tech.org - North Carolina Technologies Association
  • For more information, contact: Jeff Barber or Peter Coode Carolinas Technology Industry Group Phone 919 755-3000 [email_address] [email_address]