Dec 19, 2016, 6:29 PM
Following its stellar second quarter, VC funding in Orange County reached $130.6 million in Q3—up 3.8% year-over-year. Orange County had the tenth largest funding volume of markets nationwide and the third highest average deal size at $14.51 million.
Orange County VC activity appears to be following a similar cadence as last year—a quieter Q1 followed by a steep jump in Q2 as deals close and now a more moderate Q3 as we near the end of 2016.
Out of nine deals, NextVR’s $80.8 million expansion round was the largest closed this quarter. $37.6 million went to three later-stage rounds and $13.0 million to five early stage companies.
To date, Orange County's total VC funding sits at $429.7 million—down 8.8% compared to the same time last year due to 2016’s slower first quarter. Nevertheless, if last year’s trend continues, we can expect a solid close in Q4.
For more insight, see how third quarter venture capital funding fared nationwide.
Research: Jared Dienstag | Editor: Lillian Veley