NC startups raise $178M despite pandemic; Durham-Chapel Hill firms lead the wayDate Published:
RESEARCH TRIANGLE PARK – Venture capital activity in North Carolina fell substantially in the second quarter as the grip of the pandemic on the economy tightened.
Some 58 deals generated $178 million in fresh capital, according to data from the Venture Monitor report produced by PitchBook and the National Venture Capital Association.
That’s down from 64 deals and $573 million from the first quarter when the pandemic was emerging as a threat.
Nationally, deals fell by 23 percent.
Looking back, Q2 was not as bad as Q1 in 2019 which produced 49 deals and $130 million.
Durham-Chapel Hill firms led the way in the Q2 2020 report with 10 deals and $74 million in capital.
Teamworks led the way with a $27 million round – the largest in the quarter for the state.
Raleigh-Cary startups made 10 deals for much less – $43 million. Of that, $26 million went to Bryn Pharma, good to rank No. 2 in statewide deals.
Five deals in Charlotte produced $25 million.
Winston-Salem firms made 3 deals.
Startps in Wilmington, Asheville, Greensboro and Greenville also reported closings.
Across the southeast, 10 deals of $15 million or more were made.
Original Article Source: WRAL TechWire