Venture capitalists (VCs) ushered in over $630 million worth of investment into 40 startups and young firms in North Texas last year. The 2013 investment was more than four times what the region received in the previous year, according to Dallas News.
The surge is a significant improvement from 2012, which saw $126 million committed by venture capitalists to 35 startups in the same area, according to a MoneyTree report which will be released on Friday by the National Venture Capital Association and PricewaterhouseCoopers LLP. The said report is based on data gathered by Thomson Reuters, the report detailed.
From last year's VC investment transactions, worth mentioning is the $343-million deal in Frisco's Genband. The mega deal came when the telecom firm decided to convert its long-term debt into an equity interest, the report explained.
Without the Genband deal, the 2013 investment was still almost thrice the amount in 2012, the report noted.
On the national scale, venture capitalists invested a total of $29.4 billion in 3,995 transactions in 2013. This amount represents a 7% increase in dollars and 4% in deals for the year 2012, Dallas News reported.
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