Arizona shows increase in 1Q venture capital investments
Business Journal of Phoenix
Adam Kress
April 25, 2006
http://phoenix.bizjournals.com/phoenix/stories/2006/04/24/daily16.html?jst=cn_cn_lk

Venture capital funding in Arizona is making a strong showing early in the year.
The MoneyTree survey released Tuesday by PricewaterhouseCoopers (PWC) reported a total of $37.3 million invested in seven Arizona companies during the first quarter of this year.

"In Arizona, companies benefited from a 40 percent increase in venture capital investments, rising to $37.3 million from $26.7 million during the first quarter of 2005," said Andy Coumides, a partner in PWC's Phoenix office.

The three Scottsdale companies that received funding include: Vcommerce Corp., also known as Vstore, $13 million; Cayenne Medical Inc., $4.3 million; and Incentives Logic Inc., $1 million.

Southwest Wind Power Inc. in Flagstaff received $8 million.
Jobing.com in Phoenix received $5 million.

Tempe's Andigilog Corp. received $3 million and APT Pharmaceutical Inc. in Tucson received $3 million.

Nationwide, venture capitalists remained on a steady pace in the first quarter of 2006, investing $5.6 billion in 761 deals. The quarter's dollar value matches the investment level from the fourth quarter of 2005 and represents a 12 percent increase over the first quarter of 2005.