Panoramic Ventures: VCs invested $11.5B in U.S. Southeast in first half
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More than $6 billion in venture capital was invested in the Southeastern United States in the second quarter of 2022, up 20% from $5 billion a year earlier, according to a report by Panoramic Ventures.
Overall, $65.9B has been invested in southeastern companies since 2017, representing 10,784 investments, according to Panoramic Ventures’ 2022 The State of Startups in the Southeast report.
This year’s report examines in detail four trends in the Southeast, including a record-setting trajectory for deployed capital, continued growth in average deal size, new heights in valuations, and an evolution in how the industry has come to define investment rounds.
The report found a six-fold increase in capital deployed from 2012-2021 ($3 billion to $19 billion, respectively). Over the 11-year period from 2012-2022, the average check size increased over 300%, from $3 million in 2012 to $13 million in 2022. Median valuations have increased approximately 108% from 2017-2022.
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“Despite a well-documented deceleration of venture investing in the first half of 2022 in the traditional innovation hubs (the Bay Area, New York, and Boston), deal activity in the Southeast is robust and remains relatively fast-paced,” said Mark Flickinger, COO of Panoramic Ventures, in a statement. “With foundationally sound businesses and sustained investor interest, the Southeast continues to exhibit appreciation across many of the metrics
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