Venture capital into Los Angeles saw a noticeable uptick during the third quarter, according to a report from accounting firm PricewaterhouseCoopers and the National Venture Capital Association released Friday.
L.A. County companies raised nearly $349 million during the quarter, up from $277 million during the second quarter.
Technology companies dominated the list of firms that raised money during the period. Leading the way was Edgecast Networks Inc., a Santa Monica content delivery network, which raised $54 million from private Performance Equity Management in Greenwich, Conn.; Menlo Ventures in Menlo Park; and Burbank investor Steamboat Ventures.
Technology investments accounted for more than half of all the venture investments made in the region during the quarter, with Valley-area companies accounting for half of the top ten firms that raised money.
SetPoint Medical Corp, a Valencia medical device company, raised $30.6 million; Esolar Inc., a Burbank solar utility technology company, raised 22,000,000; FilmTrack Inc., a Studio City content- and rights-management for film and television industry, raised $20 million; Cool Planet Biofuels Inc., a Camarillo developer of plant-based fuels, raised $19.4 miillion; and United Sample Inc., an Encino online market research firm, raised $15 mllion.
Other tech startups that raised double-digit rounds include multichannel network Maker Studios in Culver City, which raised $26 million, and WhisperText LLC, a Santa Monica app for sharing secrets, which raised $21 million.
Nationwide, venture capital firms invested $7.8 billion for the quarter, up from $6.7 billion in the second quarter, according to the report.