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Venture Capital Takes Another Dive
Jessica Perry//April 30, 2007
First-quarter financing of $108.6 million continued a downward trendNew JerseyÂs venture financing dropped in the first quarter of 2007 for the third time, as the number of companies that got funds also fell.
Eighteen New Jersey companies got $108.6 million in funding during the first quarter, according to The MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association, based on data from Thomson Financial. That was down from the fourth quarter of 2006, when 23 companies secured $176.4 million. In the third quarter of 2006, 16 companies got $226.1 million.
On the national level, venture capitalists pumped $7.1 billion into companies in the first quarter, the most since the fourth quarter of 2001. But only 778 companies were funded in the first quarter, down from 802 in the fourth quarter of 2006.
Locally, the biotechnology sector was No. 1, as three companies took in $51 million. Three companies that make medical devices and equipment were a distant second, capturing a total of $25.5 million in first-quarter venture funding.
Four media and entertainment companies took in $8 million, while software and networking/equipment firms sealed three deals for $10.7 million and two deals for $11.3 million, respectively.
ÂWe are happy to see a number of different industries receiving funding, says Susan Roos, partner and New Jersey venture capital leader at PricewaterhouseCoopers.
E-mail to [email protected]
AdaptiveBlue Inc
Investment: NA
24 Stoneham Drive
Livingston 07039
Phone: (201) 788-9030
Fax: NA
URL: www.adaptiveblue.com
This was the first round of funding for the
early-stage company.
Alphion Corp.
Investment: $10.2 million
196 Princeton Hightstown Road
Building 1A
Princeton Junction 08550
Phone: (609) 936-9001
Fax: (609) 936-9002
URL: www.alphion.com
This was the seventh round of funding for Alphion.
Amicus Therapeutics Inc.
Investment: $24 million
6 Cedar Brook Drive
Cranbury 08512
Phone: (609) 662-2000
Fax: (609) 662-2001
URL: www.amicustherapeutics.com
This was Amicus seventh round of funding.
Cadent Holdings Inc.
Investment: $10 million
640 Gotham Parkway Carlstadt 07072-2405
Phone: (201) 842-0800
Fax: (866) 943-7466
URL: www.cadent.biz
This marks CadentÂs eighth round of financing.
CerioniX Inc.
Investment: $2.5 million
4300 Haddonfield Road, Suite 117
Pennsauken 08109
Phone: (856) 963-5535
Fax: (856) 663-1664
URL: www.cerionx.com
This was the firmÂs fourth round of financing.
CircuLite Inc.
Investment: $20 million
401 Hackensack Ave.
Hackensack 07601
Phone: (201) 543-2430
Fax: NA
URL: www.circulite.net
This was CircuLuteÂs fourth round of financing.
ClassLink Inc.
Investment: $750,000
1200 Harbor Blvd., Ninth Floor
Weehawken 07086
Phone: (201) 271-1010
Fax: (201) 271-0070
URL: www.classlink.com
The firm has completed two rounds of financing.
Eagle Pharmaceutical Inc.
Investment: $22 million
10 Mountain View Road
Upper Saddle River
Phone: (201) 818-6600
Fax: NA
URL: NA
This was the first round of funding for Eagle.
Elanti Systems Inc.
Investment: $1.3 million
98 Floral Ave.
New Providence
Phone: (908) 464-0900
Fax: NA
URL: NA
The company has closed one round of financing.
EluSys Therapeutics Inc.
Investment: $5 million
P.O. Box 102
25 Riverside Drive
Pine Brook 07058
Phone: (973) 808-0222
Fax: (973) 808-0322
URL: www.elusys.com
This was the companyÂs eighth round of financing.
First Index Group Inc.
Investment: $250,000
99 Cherry Hill Road, Suite 210
Parsippany 07054-1102
Phone: (973) 331-2600
Fax: NA
URL: www.firstindex.com
This was the seventh round of funding for First Index.
MedPage Today LLC
Investment: $2.1 million
150 Clove Road, 10th Floor
Little Falls 07424
Phone: (973) 890-0985
Fax: (973) 890-1327
URL: www.medpagetoday.com
The company has completed one round of financing.
Multispectral Imaging Inc.
Investment: $600,000
100 Misty Lane
Parsippany 07054
Phone: (973) 515-7340
Fax: (973) 515-7350
URL: www.multispectral.net
Multispectral has completed four rounds of financing.
myYearbook.com
Investment: $4.1 million
280 Union Square Drive
New Hope, PA 18938
Phone: (215) 862-1162
Fax: NA
URL: www.myyearbook.com
MyYearbook.com completed one round of financing.
Preclick Corp.
Investment: $1.6 million
140 Ocean Blvd.
Atlantic Highlands 07716
Phone: (732) 291-7269
Fax: (732) 291-1007
URL: www.preclick.com
The company completed its second round of financing.
ReGen Biologics Inc.
Investment: $3 million
509 Commerce St., East Wing
Franklin Lakes 07417
Phone: (201) 651-5140
Fax: (201) 651-5141
URL: www.regenbio.com
The company completed five rounds of financing.
Terracycle Inc.
Investment: $100,000
121 New York Ave.
Trenton 08638
Phone: (609) 393-4252
Fax: (609) 393-4259
URL: www.terracycle.org
This company completed two rounds of financing.
VPIsystems Inc.
Investment: $1.1 million
943 Holmdel Road
Holmdel 07733
Phone: (732) 332-0233
Fax: (732) 332-0516
URL: www.vpisystems.com
The company completed 10 rounds of financing.
NA: Not Available
