MoneyTree: US Venture Capital investment way up, but Philly area down

While venture capital investment nationwide showed a signicant increase in Q2 2011, in the Philly area VC funding was down, acoording to data released today in the MoneyTree report from PricewaterhouseCoopers (PwC) and the National Venture Capital Association (NVCA.)

Nationally, venture capital investments rose 19% in Q2 2011 to $7.5 billion in 966 deals, up 19% over Q1 2011. Internet-specific investments were reported to be at a ten year high, and investments in the Life Sciences sector also rose 37% from the previous quarter.

However, VC investment in the Philadelphia Metro area in Q2 2011 was $89 miliion, on 29 deals, down from $128 million in the previous quarter and the lowest amount since Q1 2010.

Of that $89 million, $30 million went to Neuronetics of Malvern, a company that uses magnetic fields to treat depression. There were few large IT or Internet-related deals; the largest was $18 million for Pet360 of Plymouth Meeting, a deal I wrote about a couple of weeks ago.


Other significant investments were in ProtonMedia of Lansdale ($4.5 million) led by Kaplan VC LLC, InstaMed Comunications of Philadelphia ($4 million) from the New Jersey Technology Council and US Bancorp, Collections Marketing Center, Inc. of Wilmington ($2.6 million) led by Milestone Venture Partners and Osage Partners, LLC, Agilence Inc. of Camden ($2.6 million) from MMV Financial, Inc., Aklero Risk Analytics, Inc. of Fort Washington ($1.2 million) led by Robin Hood Ventures, and TimeSight Systems, Inc. of Mount Laurel ($1.1 million) led by Contour Venture Partners and New Venture Partners LLC.

Smaller amounts went to Ryzing LLC (Philadelphia), Sanovia Corporation (Philadelphia), Careerminds Group, Inc. (Hockessin, Delaware), CityRyde LLC (Philadelphia), Yorn LLC (Conshohocken), and AlignAlytics (Wayne), formerly AlineGRC.