In­vest­ment in area com­pa­nies soars in year’s sec­ond quar­ter

Austin American-Statesman - - BUSINESS -

Ven­ture cap­i­tal in­vest­ing in Austin com­pa­nies rose 64 per­cent dur­ing the sec­ond quar­ter com­pared with the same quar­ter a year ago, ac­cord­ing to a sur­vey re­leased Thurs­day.

Twenty-two com­pa­nies raised a to­tal of $78.6 mil­lion dur­ing the April-June quar­ter this year, ac­cord­ing to a sur­vey by Price­wa­ter­house­Coop­ers and the Na­tional Ven­ture Cap­i­tal As­so­ci­a­tion. Dur­ing the same pe­riod last year, 13 com­pa­nies raised $48 mil­lion.

The biggest deal dur­ing the quar­ter was Kyle-based Xtreme Power, which raised $18 mil­lion from Besse­mer Ven­ture Part­ners and SAIL Ven­ture Part­ners. Xtreme Power is de­vel­op­ing power-stor­age sys­tems.

Austin soft­ware com­pa­nies re­ceived the most in­vest­ment dol­lars in the quar­ter, with nine com­pa­nies rais­ing $20.4 mil­lion, ac­cord­ing to the sur­vey.

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