Connecticut venture capital activity ticked up in the second quarter, but investment so far this year lags well behind 2015.
Connecticut venture capital activity ticked up in the second quarter, but investment so far this year lags well behind 2015.
Venture capitalists injected $89.1 million in Connecticut companies during the second quarter of 2016, down from $117.5 million in the year-ago period.
Overall, 20 Connecticut companies received funding during the April to June period, compared to 16 a year earlier, according to the latest MoneyTree report, a joint effort of PricewaterhouseCoopers and the National Venture Capital Association (NVCA), using data from Thomson Reuters.
Nationally, venture capitalists invested $15.3 billion in 961 deals in the second quarter. That investment total was up 20 percent from a year earlier, while deal count was down 5 percent.
Through the first two quarters of 2016, total venture capital funding is down 44 percent in Connecticut, while there have been three fewer deals.
South Windsor 3D-printing manufacturer Oxford Performance Materials received the largest funding during the second quarter, raking in $25.9 million.
Other Greater Hartford companies to raise money included: Hartford's Amp Electrical Distribution Services ($6.6 million), Rocky Hill's Payveris ($4 million), and Middletown's Umbie Health Corp. ($2.6 million).
— Greg Bordonaro
