Southern California: 30% of venture liquidity in Q1
April 1, 2009
In a good-news-in-the-bad-news for Southern California:
The bad news: U.S., venture backed liquidity dropped significantly in Q1, to a mere $3.2 billion.
The good news: 30% (yes, a third) of the liquidity for venture capital firms in the U.S. came from the sale of two Southern California companies — CoreValve and Ablation Frontiers. CoreValve was the biggest M&A deal in the quarter, at $700M, and Ablation Frontiers was sold for $225M.
CoreValve was backed by Apax Partners, Healthcap Venture Capital, Maverick Capital, and Sofinnova Ventures; Ablation Frontiers was funded by Aberdare Ventures, FirstMark Capital, and Versant Ventures.
