L. A. companies raised nearly $250 million from venture capital firms in the second quarter, an increase over a sluggish start to the year, according to a report from accounting firm PricewaterhouseCoopers and the National Venture Capital Association released on Friday.
Among Valley-area companies, Music Mastermind Inc. of Calabasas, which is developing apps for creating music, raised $11.4 million, and Surf Airlines Inc., a Van Nuys startup providing subscription air services to Silicon Valley, raised $7 million.
In addition, Calient Technologies Inc., a telecommunications company, raised $12.2 million, and Lastline Inc., an anti-virus software company, raised $10 million each. They are both based in the Santa Barbara County community of Goleta.
Nationwide, venture capital firms invested $6.7 billion in the quarter, up from $6 billion in the first quarter, according to the PwC/NVCA MoneyTree report.