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2014 Mid-Year Update to CED’s Innovators Report
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CED’s 2014 Mid-Year Update shows North Carolina startups attracting investments from global sources with several high-profile investment deals, IPOs and acquisitions signaling strength of entrepreneurial sector.  In the first six months of 2014, 127 North Carolina companies in the technology, life science, advanced manufacturing and cleantech sectors collectively raised more than $266 million through equity investments, grants and awards.  Activity included 4 IPOs and a number of large mergers and acquisitions.


2014 Q1-Q2 Innovators Report

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Fast Facts


  • Total investments: In the first six months of 2014, 127 North Carolina companies in the technology, life science, advanced manufacturing and cleantech sectors collectively raised more than $266 million through equity investments, grants and awards.
  • Total Deals: Of the 127 companies that received funding, 75 companies raised equity funding through 78 equity deals.
  • Unique funders: A group of 48 unique institutional funders invested in North Carolina companies in the first half of the year, with 17 coming from North Carolina, 10 from the Northeast, 8 from the mid-Atlantic, 8 from California, and 3 from the Midwest. Two funders were from Europe – one from Belgium and one from Germany.
  • Undisclosed investors: Undisclosed investors, which can include angels, high net-worth individuals, family offices, and many other accredited investors, participated in 66 percent of the total equity deals. 
  • High-dollar deals: Five North Carolina companies attracted more than $10 million each in funding – with Cary-based Dude Solutions topping the list by attracting $100 million in investment.
  • Exits: There were also a number of significant exit events in the first half of 2014, including four IPOs for: Square 1 Financial, Inc. (SQBK), SCYNEXIS, Inc. (SCYX), NephroGenex, Inc. (NRX) and Argos Therapeutics Inc. (ARGS).
  • Mergers and acquisitions: Among the noteworthy mergers and acquisition transactions:
    • Furiex Pharmaceuticals was acquired by Forest Laboratories for $1.5 billion;
    • Aerial BioPharma was acquired by Irish-based Jazz Pharmaceuticals for up to $400 million;
    • Digitalsmiths was acquired by TiVO for $135 million;
    • Chelsea Therapeutics was acquired by Lundbeck for over $650 million; and,
    • Strikeiron was acquired by Informatica.

    Among the report’s other key findings:

  • Investments in technology companies outpaced life science companies, both in total numbers of deals and in dollar amount. For every $1 raised by life science companies, technology companies raised nearly $6;
  • The emerging sectors of advanced manufacturing and cleantech continued to draw investor attention with over $27 million raised; and,
  • The first half of 2014 continued strong momentum from 2013, with 4 IPOs and over 10 M&A events.  

 

If you have feedback or insights to share, contact Dhruv Patel at dpatel (at) cednc (dot) org

Data Sources:  These data were compiled from SEC Filings, media coverage, our partners (see list below), and the entrepreneurs themselves.

CED

National Venture Capital Association (NVCA)
North Carolina Biotechnology Center
Ernst & Young
PricewaterhouseCoopers
SBIR.gov


The Innovators Report is made possible by generous gifts to the CED Annual Fund. Thank you to our many supporters! For more information on how to contribute, please visit www.cednc.org/donate.

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