That cool fall breeze you’re feeling may not just be the autumn wind.
It may be the cooling of the venture capital market, which saw dollar totals for the third quarter drop 29 percent over the previous quarter as fewer mega deals were completed, according to a report released today by CB Insights. The number of deals also fell 10 percent.
The biggest chill, however, occurred in the IPO market as just one U.S.-based venture-backed tech company completed a public stock offering during the third quarter. (TubeMogul). In total, there were 18 VC-backed IPOs during the quarter, down from 35 in Q1 and 24 in Q2, according to CB Insights. (Those numbers differ slightly from a report by the NVCA released earlier this month which said that 23 VC-backed companies completed IPOs, though the report also showed a downward trend among IPOs over previous quarters).
The slow down comes amid talk of a bubble in the tech market, with prominent venture capitalists such as Marc Andreessen and Bill Gurley sounding the warning bells. Talk of a bubble was also a hot topic of discussion at the GeekWire Summit earlier this month.
Below is a look at the geographical breakdown of U.S. venture capital dollars, with California representing 53 percent of the total, followed by New York (14 percent); Massachusetts (7 percent) and Washington and Texas (3 percent).
Washington state saw 23 deals and $294 million invested — down from the previous quarter but up from the $105 million that was invested for the same period last year. Nearly half of that money flowed into Juno Therapeutics, a Seattle biotech company which scored $134 million during the quarter.
And here’s a look at the VC investments by state.
