Venture capitalists invested $89 million in Maryland companies in this year's third quarter, with the state ranking 8th in the country for the number of deals and 13th in dollars invested, according to a new report released Friday.
Nationwide, venture capitalists invested $9.9 billion in 1,023 deals in quarter ended Sept. 30, according to the MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association, which uses data from Thomson Reuters.
Venture capitalists have invested in 63 Maryland-based companies so far in 2014, surpassing the 62 deals in all of 2012. In 2013, venture capitalists invested in 74 Maryland-based companies.
The $89 million invested in 2014's third quarter is a third more than the $66.5 million invested in the second quarter but well off the $142 million in 2013's third quarter.
Firms that received venture capital funding in the Baltimore area included Baltimore-based Cerecor Inc., a biopharmaceutical company, which got more than $16 million in funding from firms including MPM Capital LLC and New Enterprise Associates Inc. Merkle Inc., a Columbia-based IT services firm, got more than $10 million in funding from undisclosed firms.
Stevensonville-based Harpoon Medical Inc., a medical device company, received nearly $4 million in venture funding from sources including Epidarex Capital and the Maryland Department of Business and Economic Development.
Venture capital investing nationwide — more than $33 billion in the first three quarters — has already surpassed that of all of 2013, a total of about $30 billion.