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CapitalHunter.com Reports - Venture Capital Activity Hits High Water Mark of Q2 2004 With Over $582 Million in Investments

Venture capital activity was extraordinarily strong this past week as aggregate investments pushed to a new zenith of $582 million from the prior high of $558 million earlier this quarter. Venture capital investments continue to climb this week with another surge of 41%. The $582 million was raised primarily by California based software companies. In addition, six companies began trading on Wall Street with over $384 million raised through IPOs.

SAN DIEGO, CA June 22, 2004 -- The six IPO's this reporting period are as follows: Infosonics, Metabasis Therapeutics, Radiation Therapy Services, Blackboard, Leadis Technology, and ADESA. For a full graphical analysis go to www.capitalhunter.com/weeklyreport.asp

Venture Capital Investments by Region

Geographically, 16 California companies raised $264.23 million in venture financings. The largest venture financing in California this period went into Mahi Networks for $70.1 million. Mahi Networks is a Petaluma based company that develops an optical transport switch router and solutions to simplify metropolitan communications infrastructure.

Venture Capital Investments by Sector

The software sector raised 45% of the venture capital this period. Thirteen software companies raised over $256.88 million in venture financing. The largest venture financing was by RiskMetrics, which provides financial analytics and wealth management solutions.

Venture Capital Investments by Round

Companies raising their later rounds led this week's venture capital activity. Later stage companies represented 57% of the total venture capital deployed this period. The largest later stage financing was a recapitalization of RiskMetrics.

Top Three Venture Capital Investments

The three largest venture deals this period are as follows:

1. RiskMetrics
2. Mahi Networks
3. INFONXX

Venture Capitalists funding the Top Three Deals

The following eight investors funded the above mentioned top three venture capital investments for over $236.1 million: General Atlantic Partners, Jerusalem Venture Partners, Meritech Capital Partners, Oak Investment Partners, Rho Capital Partners, Spectrum Equity Investors, St. Paul Venture Capital, and Technology Crossover Ventures.