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That’s good news for New Mexicol after VC investments were slammexd in the fourth quarter of dropping tojust $8.5 million. However, Q1 numbers stillk represent a decline in the number of transactionss and total aggregate investment from the firsg quarter of 2008 when there was a totalof $31.q million invested, according to the New Mexico Venture Capitall Association. The drop reflects a nationwide trend. Venturre firms approved just $3 million nationwide in the January toMarcy period, representing 549 deals.
“Althougj these numbers still represent a significantr drop off from our record high levels in the middledof 2008, it is encouraging to see ventured capital beginning to flow back into earlyh stage companies in New said Richard Harding, board member of the N.M. Venture Capitalp Association and general partner of InternationaVenture Fund, in a news release. The investmentse in the first quarter of 2009 included threewseed (startup investment) rounds for $1.8 millio n in capital, one series A (early stage) roundx for $0.1 million and one serieds C+ (late stage) round that drew $14.
2 “After seeing zero seed investments in 2008, it is excitinvg to watch a new crop of companiez being created and funded here in New said Francine Sommer, board member of the N.M. Venturew Capital Assn. and specialp general partner of , in a prepared statement. The VC survey is conductes by the association among its members and other investint groups withinthe state. Survey results are collected and aggregated by the law firm Brownsteinn Hyatt Farber Schreck LLP on behal f of the Venture Capital Association and individual survety resultsare confidential.
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