Led by a few blockbuster deals, venture capital invested in the Pacific Northwest region was up $600m from the previous quarter, though that number was down compared with the same quarter in 2018. Notable contributions from BC in particular, including Clio ($250m), Chinook Therapeutics ($65m), and Trulioo ($53m), helped boost the region’s numbers. The Seattle-area remained the most active market by far.
Median deal size ($2.2m) was up slightly, while median post-money valuation ($16m) was down significantly from previous quarters.
There was little change in the sectoral focus (tech broadly, followed by life sciences), but we did see some new investors making the list of most active in the region, including Vulcan Capital. New York-based Greycroft was the only fund from outside the region to make the top 5. That firm led newly-minted Seattle “unicorn” Icertis’ $115m Series E round.
