Pittsburgh startups are getting noticed. Some of the year's investment events like the 3 Rivers Venture Fair and Steve Case's Rise of the Rest Tour have highlights Pittsburgh's talented entrepreneurs and growing startup community. And now, data collected from Thomas Reuters is showing that 2014 investments in local startups has already surpassed last year's third quarter totals.
A combined $104.3 million was pumped into 26 Pittsburgh-area tech and life sciences companies during the third quarter by investors including venture capital and private equity firms, economic development groups, corporations and high-net-worth individuals. That's according to the MoneyTree Report, released Friday by PriceWaterhouseCoopers LLP and the National Venture Capital Association, based on Thomson Reuters data.
The dollars were almost double the $54.3 million invested locally during the third quarter of 2013. For the nine-month period, $242.8 million has been raised by 56 young Pittsburgh companies, passing the $130.5 million raised during the entire 12 months of 2013 and passing all full-year totals going back to 2002. In 2001, local companies raised $360.3 million.Read more
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