Deal count is down, but Arizona's VC investment surges in second quarter

Posted at 8:57 AM, Jul 15, 2022

PHOENIX — Even though the national venture capital scene this year isn’t as supercharged as it was in 2021, it showed signs of strength during the second quarter, and Arizona was no exception.

The latest quarterly Venture Monitor report released Thursday by research firm PitchBook and the National Venture Capital Association showed that Arizona companies sealed 39 VC deals during the second quarter of 2022, down from 44 in Q1 and down from the 47 recorded in the same quarter a year earlier.

But even with the lower deal count, the money invested was more than twice that of Q1 2022 or Q2 2021. Arizona companies hauled in $463.08 million during the quarter, up from $201.49 million a year earlier and $227.69 million in Q1.

That funding level was also the fifth-highest quarterly amount Arizona has reached since 2014, which is as far back as the Venture Monitor report goes.

Read more of this story from the Business Journal.