Magic Leap helps region lead venture capital

South Florida led 2018 venture capital investment in the state, with the top deal of $461 million raised by Plantation-based Magic Leap, according to recent reports on venture capital.

The technology company, which introduced its first product, Magic Leap One wearable computer in 2018, has raised a total of more than $2 billion. Investors include Google, Chinese e-commerce company Alibaba, and the Public Investment Fund, an investment arm of Saudi Arabia. The latest financing, in March, was from the Public Investment Fund.

Last year, there were 82 deals in South Florida that raised a total of $1.1 billion, which represented 66 percent of the 189 deals worth $1.69 billion in Florida, according to InternetCoast research, PwC CB Insights MoneyTree Report, and Pitchbook.

Other top deals in South Florida and money raised were:

■ Insightec, Miami, $150 million;

■ Ancient Nutrition, North Palm Beach, $103 million;

■ MDLive, Sunrise, $50 million;

■ United Automobile Holdings, Miami Gardens, $45 million.

Florida attracted 1.3 percent of all venture capital in the U.S. during the year, which put it behind California, New York, Massachusetts, Washington, Texas, North Carolina and Illinois.

Florida-based companies raised $1.7 billion from 189 deals in 2018, compared with $2.6 billion and 153 deals in 2017.

“While a decline in investment could be unsettling, 2018 deal activity was the highest level in many years,” said Dale Gregory, InternetCoast president, in a news release.