Southern California VC Totals Drop To $810.5M In Q1

Southern California startups raised $810.5M in venture capital in Q1, according to the latest MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association, based on data from Thomson Reuters. Southern California venture totals were down significantly from the $1.38 billion raised in Q4, and even lower than Q1 of 2015, when $2.01 billion was raised in the region.

Los Angeles had $399.1M in funds invested, across 47 deals; Orange County had $158M invested across 15 deals; and San Diego had $253.5M invested across 21 deals. Among the bigger deals were an investment in smart doorbell company Ring, with a $61.2M funding round, and $60M in Ventura-based advertising technology developer TradeDesk.

Southern California saw a steeper drop in venture capital investments nationally, where the MoneyTree Report found $12.1 billion was invested in 969 deals, flat compared with the fourth quarter when $12.0M was invested.