Regional firms net VC

August 6, 2004

NH Business Review Staff,

Venture capitalists invested $916.6 million into New England firms in the second quarter — the most since late 2001 — according to a new study.

New England venture investing increased for the third consecutive quarter, as investors placed big bets on a number of computer technology and pharmaceutical companies, according to the MoneyTree Survey conducted by accounting firm PricewaterhouseCoopers, financial publisher Thomson Venture Economics and the trade group National Venture Capital Association.

Leading the list was TechTarget, a Needham, Mass., computer industry magazine publisher, which rounded up $70 million from Technology Crossover Ventures of Palo Alto, Calif., and Polaris Venture Partners of Waltham.

Another company to benefit from the venture revival is AmberWave Systems Corp. of Salem, N.H., a maker of advanced silicon material for use in microchip production. AmberWave raised $21 million in the second quarter, money the company will use to bring its product to market.

Categories: News

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