Venture capitalists invested $47.5 million in businesses in Louisiana during 2014.
According to a new report released by PricewaterhouseCoopers and the National Venture Capital Association using data from Thompson Reuters, Baton Rouge biotechnology company Nupotential closed one venture capital deal in 2014 valued at $380,000 with BVM Capital.
Two New Orleans-area businesses, Posigen, LLC and Kickboard, Inc. received $42.3 million in venture capital collectively. Posigen’s $40 million investment came from Goldman Sachs & Co., while New Markets Venture Partners invested in Kickboard.
The Capital City ranks 152nd and New Orleans ranked 56th on the list of 160 metropolitan areas where venture capitalists invested a total of $48.3 billion into companies. The Baton Rouge area has traditionally seen more venture capital deals in the healthcare industry, more specifically in biotechnology and pharmaceuticals.
Lafayette, the only other city that received venture capital last year in Louisiana, saw one $4.8 million deal come to Broad Point Energy from Advantage Capital partners.
Nationally, San Francisco’s metro area lead with 876 completed venture capital deals valued at $15.7 billion. Five of the 10 largest deals in the nation completed in 2014 were in the San Francisco metro area.