San Diego

Q3 2021 San Diego Venture Report

This quarter San Diego saw tremendous venture growth, people are investing and it's showing in the numbers.

After reading the CB Insights 2021 Q3 report and seeing San Diego left out, we decided we needed our own report. Seriously CB? Top 6 city for venture capital in the US but you’d rather focus on Miami?!

So myself, Fred Grier, and Mike Krenn & Matt Kroe of Connect pulled data, including their recent Q3 report, and we present the following:

The stats of Q3 of 2021:

  • $2.02B raised in 74 private venture fundings in Q3 alone from Connect Funding Airtable
  • 6 companies raised more than $100M rounds mostly tech companies like Shield AI ($200M), Williot ($200M), Seismic ($170M), NetraDyne ($150M), Genomatica ($118M) and Lycia Therapeutics ($105M)
  • $912M raised collectively in 6 IPOs from Neal’s SD Publics Spreadsheet
  • Cue Health, Tyra Biosciences, Effector Therapeutics, Dermata Therapeutics, Erasca, Lumos Diagnostics
  • $5.1B current combined current market cap of these six public companies
  • 12 acquisitions, the largest of which was more than $5.5B of BioLengend
  • Other notable acquisitions TakeLessons by Microsoft, Uqora, NewRocket, LawnLove, Suja Juice, Ecwid for $500M, Omniome for $800M
  • 3 new venture funds: Seaside Equity of $160M, Harpoon Fund III of $120M, Moore Venture Partners Fund IV of $15M
  • New companies opened SD offices: iBio (Texas-based) & Mainstay Medical (Ireland-based)

These are some massive numbers and growth. This was our yearly data just 2-3 years ago. Onward San Diego!