Venture capital investments in Washington state took a negative turn last year, falling 16 percent to $540 million. But while venture capitalists didn’t invest as much as they used to in the region, at least one angel group said its members are picking up the pace.
The Keiretsu Forum Northwest, made up of angels in Seattle, Bellevue, Portland and Boise, said today that its members invested $24 million in 36 companies last year.
That was the highest total since the group was formed in Seattle in 2005.
Twenty nine of the 36 companies were based in the Pacific Northwest, including 4-Tell, BroVo Spirits, LoanTek, Pacific West Land and Vizit.
Thirty eight percent of the funds went to real estate firms, followed by technology (30 percent) and consumer/retail (16 percent). The angel group also added 78 new members in the Pacific Northwest last year.
“We are pleased to be steadily growing our membership and due diligence resources to provide vital funding to growing companies,” said Nathan McDonald, president of Keiretsu Forum Northwest.
Here’s a look at all of the companies that raised cash from the angel group in 2011.
Atossa Genetics Inc.
Enroute Systems Corporation
Pacific West Land
Pacific West Land Fund II
Valant Medical Solutions
Your Local Market
Red Hills Acquisitions V
Red Hills Acquisitions VI
The Lough Road
B&R Liquid Adventure
Focal Point Energy