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Upstate Enjoys Strong VC Quarter 

 by Robin Cooper

Monday, July 25, 2011

 Upstate technology companies secured $48.7 million in venture capital during the past three months, surpassing total investments for all of last year by nearly $3 million, according to a new report.

New data from PricewaterhouseCoopers   PricewaterhouseCoopers Latest from The Business Journals Slideshow: Good accounting jokes from great Nashville accountantsU.S. Steel creates chief risk officer postAnnouncing Nashville's Power Leaders in Accounting Follow this company  and the National Venture Capital Association's MoneyTree report show that Upstate tech companies raised more venture capital in the second quarter of the year than any quarter since the end of 2007.

Venture capital investments increased by 19 percent nationwide, growing to $7.5 billion. Silicon Valley companies led the way, raising $2.97 billion, followed by New England firms, which attracted $1.1 billion in investments.

Upstate companies have now raised $66 million on a dozen different venture capital investment deals for the first half of the year. The region has not attracted that much since 2007, when it raised $135.4 million in venture capital for the entire year.