Southern California Startups Raise More Than $598.4M In VC In Q4

Southern California's venture capital investments totaled a little more than $598.4M in the fourth quarter, according to the latest number from PricewaterhouseCoopers and the National Venture Capital Association, in its MoneyTree report. The investments were a drop from Q4 of 2012, $711.8M was invested in the region. There were 84 venture capital deals for the quarter. For the year, a total of $2.51 billion was invested across Southern California's technology industry.

The largest financing deals in the quarter were for Irvine-based virtual reality goggle maker Oculus VR, which raised $74.3M in the quarter and social media darling Snapchat raised $50.0M. Other large deals included United Capital Financial Partners ($38.0M); Achates Power ($35.2M); TrueCar ($30.0M); and JustFab (also $30.0M).

Los Angeles led the region with $309.79M in total investments for Q4 of 2013, with San Diego ($145.0M) and Orange County ($143.6M) with nearly the same venture investment toal.

In terms of the most active investors from the region, Upfront Ventures and the Tech Coast Angels tied with eight investments each; Amgen and Double M both had five investments each; and Correlation Ventures, Siemer Ventures, NGEN Partners, and Qualcomm Ventures all had four investments.

Nationally, the report found that there was $29.4 billion invested across 3,995 deals for the year, which is up 7 percent in terms of dollar amount, and 4 percent more in deals than 2012. For Q4, $8.4 billion was invested in 1,077 deals nationally.

Photo courtesy BigStock.