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The largest venture capital funders in North Carolina last year totaled more than $1.4 billion, and the vast majority of the companies are located in the Triangle.
Of the 50 largest companies on the list, 64% are based in the Triangle, including the two largest that hauled in raises of $150 million each.
More than half of the funders represented were late-stage raises — and there were 24 funders that raised at least $20 million in North Carolina last year, according to data from PitchBook.
In Charlotte, the largest raise came from vet startup Petfolk, which closed on a Series B funding round worth $40 billion last July.
Overall, 2023 was a rather slow year for venture capital activity across the U.S. More specifically, deal activity for the fourth quarter came in at an estimated 3,934 deals completed, which, though nearly 28% off the high quarter in 2022, remained above any quarter before 2021, except for Q1 2020, according to PitchBook data.
And VC deal value in the fourth quarter of last year was the lowest figure since Q4 2019, per the data.