Venture-backed firms in San Diego County raised $706 million in the second quarter amid a nationwide increase in investment funding, Dow Jones VentureSource reported Thursday.
“U.S. venture capital fundraising was the highest in the last three years, both in the amount invested and in number of funds,” VentureSource said in its latest quarterly report.
The funding total for San Diego firms was nearly double the $362 million recorded in the first quarter, while the number of deals increased from 19 to 29.
The three biggest local deals were all in the biotech sector: $85 million for Ansun BioPharma, $70 million for Cibus Global and $65 million for Metacrine.
San Diego ranked sixth among technology centers in terms of funding, behind the San Francisco Bay Area, New York, Boston, Los Angeles and Seattle.
VentureSource is considered the most comprehensive global database of companies backed by venture capital and private equity
