Sundrop, TerraLux led VC during 2nd quarter
Sundrop Fuels Inc. raised $33.8 million, mainly from Oak Investment Partners, to fund its effort to build and run a biofuel refinery.
TerraLux Inc raised $18.3 million to advance its efforts to manufacture light-emitting diode, or LED, lighting. Access Venture Partners, Emerald Technology Ventures AG and Generation Investment Management LLP led the round.
Ten of the 12 companies in Boulder and Broomfield counties that raised capital during the quarter from April through June brought in $117.2 million, according to the MoneyTree Report compiled by PricewaterhouseCoopers and the National Venture Capital Association, based on data supplied by Thomson Reuters. Two companies in Boulder — Gnip Inc. and Mile High Organics — raised funds, according to the report, but the amounts were not disclosed.
The amount of capital raised by area companies is 71 percent of all venture capital raised by companies in Colorado, which came to $164 million in the quarter.
Nationally, venture capitalists invested $7 billion in 898 deals in the second quarter. Quarterly investment climbed 17 percent in terms of dollars and 11 percent in the number of deals compared with the first quarter of 2012, when $6 billion was invested in 809 deals.
The number of early-stage deals reached the highest quarterly total since the first quarter of 2001, with $2.1 billion going into 410 deals, an 18 percent increase in dollars and a 28 percent increase in deals from the prior quarter.
The Internet-specific sector also saw increases during the second quarter, increasing 22 percent in dollars and 31 percent in deals from the prior quarter to $1.8 billion going into 261 deals in Q2.
The life-sciences sector (biotechnology and medical devices) experienced a decline in funding in the second quarter, dropping 9 percent in dollars and 6 percent in deals from the prior quarter to $1.4 billion going into 174 deals in the second quarter.
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