Pittsburgh's 2017 venture capital already topping 2016
Pittsburgh startups are on track for a big year in venture capital financing, according to the PwC/CB Insights MoneyTree Report.
The third-quarter report, released Wednesday, shows Pittsburgh startups have already snagged $187 million in venture financing in 2017.
That total already tops the nearly $150 million reported for all of 2016 and the $156.3 million reported for 2015.
In 2014, venture-backed companies based in Pittsburgh brought in $294.2 million, the highest since 2000 when the total was $730 million.
Pittsburgh companies raised nearly $111 million in the third quarter of 2017, according to the report. The city accounted for nearly half of the $226 million in venture capital raised in Pennsylvania in the third quarter.
Complexa , a South Side-based biopharmaceutical company working on treatment for acute and chronic kidney disease and other inflammatory and metabolic diseases, received $62 million from investors that included Edmond de Rothschild Investments, HMB Healthcare Investments, Jafco Life Science Investment, New Enterprise Associates and Pfizer Venture Investments.
RoadRunner Recycling , which moved from New York City to One PPG Place in Downtown this year, raised $10 million from Sewickley-based Adams Capital Management and Tulco. The company runs something similar to a ride-sharing service for picking up recycling.
Pennsylvania's $226 million in venture financing ranked the state ninth in the nation. Neighboring New York brought in $4.2 billion, and Ohio received $381 million.
Aaron Aupperlee is a Tribune-Review staff writer. Reach him at email@example.com, 412-336-8448 or via Twitter @tinynotebook.