Venture capital investment in February remained in line capital levels invested throughout the last twelve months. According to Pitchbook, venture capital firms invested $9.5 billion during the month, not far off of the average over the trailing twelve months of $10.2 billion. However, similar to private equity activity, deal count was down again during the last month, falling 29.1% to 572 deals. For the year-to-date period, VC investments totaled $19.4 billion, up just 5.8% from the same two-month period one year ago.
Median deal value is at $3 million through two months this year, up from $1.04 million during January and February of 2018 and $1.91 million for the whole prior year. As may be anticipated, 246, or 43%, of the month’s deals were in the information technology space, comprising $3.7 billion of the capital spent. West coast deals made up 227 deals, 190 of which were in California, where $6.2 billion was spent.