April 7, 2010
Pharma, Green Tech and Venture Capital Win
Today provides us good venture capital news coming from a number of different industries. Bharat Serums and Vaccines Limited of India and EcoFactor of California both announced the successful completion of their respective financing rounds. Additionally, there are more signs of an economic recovery, especially when it comes to venture capital funds, from newly released figures.
India-based Bharat Serums and Vaccinces Limited just announced that with backing, from OrbiMed’s Caduceus Asia Mauritius Limited, the completion of a new financing round. With around $5 billion in managed assets, OrbiMed is the world’s largest healthcare-dedicated investment firm. Bharat’s rapid expansion within India’s bio-pharmaceutical industry focuses its efforts on a niche market of injection-based able life saving drugs. The company does all the research, manufacturing and marketing for its drugs which, in many cases, are significantly better than alternative therapies already on the market.
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Redwood City, California-based EcoFactor recently announced raising $3.5 million dollars in its most recent round of financing. The company focuses on a device that allow homeowners to set their thermostat once, then, while maintaining that level of comfort, the device incrementally makes adjustments throughout the day, taking into account varying prices of energy. Through the tiny adjustments, the device saves energy as well as up to 30% on a homeâ€™s electrical bill. The new capital, which is more than was expected, raises the companyâ€™s total financing to $5.9 million. Investors are not shy to invest as EcoFactor continues its strong partnership with Oncor, a major Texas utility. Investors include Claremont Creek Ventures, RockPort Capital and a number of angel investors.
Finally, new data released by Dow Jones LP Source show that, across 34 venture capital funds in the U.S., $4.1 billion was raised in the first quarter of this year. Although this new total represents a 41% increase over the previous period last year, not all news is good. Private equity for the same period fell 8% over the same period last year, to $17.6 billion, across 97 funds. When you put things into perspective there are two ways to look at this recent private equity data: initially, the news may seem miserable, as last year was the worst year for private equity in the last five years, things are still declining; alternatively, the news is a positive indicator, as the rate of decline has slowed significantly, since 2009 saw an annual decline of 68% from 2008. When you consider the venture capital news as well, I take the news as wholly positive.
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As you continue to read about companies from around the world receiving funding, stop for a minute and consider how to get the right funding for you and your business. Bharat and EcoFactor need not be the exception for those seeking funding. Try VCgate’s extensive Venture Capital and Investors Database with 791 investors in biotechnology, 555 investors in pharmaceuticals, 2584 investors in technology and thousands more. As the economy rebounds, take the right path to find the best investors for your company. Try our Venture Capital and Investors Database today!
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