The Washington region raised a collective $286 million in venture capital during the first three months of 2013, thanks in large part to a $110 million financing for D.C.-based LivingSocial Inc., according to the MoneyTree report released Friday by PricewaterhouseCoopers LLP and the National Venture Capital Association.
At first blush, the number looks like good news for the region, a marked improvement from the $95 million raised in fourth quarter of 2012. Assuming the upswing holds for three more quarters, we just might be on track to fulfill Steve Case’s prediction of a $1 billion year.
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