Watch out Silicon Valley. Startups in Los Angeles County generated impressive growth in venture capital deals during the third quarter of 2012. According to an article in the October 22, 2012 edition of the Los Angeles Business Journal, the numbers are impressive:
• $324 million of venture capital investment in 3rd quarter
• 9% increase vs. 3rd quarter 2011
• 48 separate investments (up 4%)
• 155 investments year-to-date
OK, maybe Silicon Valley doesn’t need to worry yet. But it’s true that Los Angeles County has attracted an increasing amount of venture capital in a time when the national picture doesn’t look quite so rosy. Nationwide, third quarter venture capital “fell 12 percent to $6.5 billion on 890 deals, down 10 percent compared with the year before.”
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