UAV contracts, event business, retail rents and health care costs are all up.
San Diego venture capital is down from a year ago, even as funding picked up nationally. Venture capitalists invested $214.3 million in the quarter that ended Sept. 30, according to the MoneyTree Report by PrivewaterhouseCoopers and the National Venture Capital Association based on data from Thomson Reuters. That’s down from $252 million a year ago, but up from the prior quarter. Software continues to get the bulk of venture funding, an area where San Diego is not as strong. San Diego’s strength, life sciences, saw nationwide funding drop 26 percent to $1.418 billion. In San Diego, biotech accounted for $144 million of the total venture capital dollars in the quarter or slightly more than 10 percent of the national total.
The top venture capital recipients in San Diego: Otonomy, a biotech company which is developing therapies for ear disorders, $45.9 million; 3D Robotics, which produces unmanned aircraft vehicle technology, $30 million; and On-Ramp Wireless, which provides wireless networking for machine-to-machine communication, $15 million.