July saw venture investors pour more cash into deals with U.S.-based companies than they did the same month a year ago, as deal count dropped slightly.
In July 2018, investors put $8.2 billion to work into 310 companies, compared with the $4.8 billion they invested in 373 companies the same month a year ago.
That 70.8 percent increase in equity was driven partly by a concentration of capital into a few deals that outsized the largest deals of July 2017.
The computer software sector saw the most venture deals in 2018 at 124 compared with 123 in 2017. Equity invested also increased to $2.4 billion in the month compared with $1.4 in 2017.
The sector’s biggest deal was electric scooter and bike sharing company Neutron Holdings, better known as Lime, which raised $335 million from Andreessen Horowitz, Atomico Ventures, GIC Special Investments, GV, IVP, Meritech Capital Partners, Coatue Management and Fifth Wall Ventures.
By comparison, the biggest deal in the computer software sector in July 2017 was Brain Corp, which raised $114 million.
The internet ecommerce sector likewise saw a sharp increase in equity, with $1.4 billion invested into 29 companies in July 2018, compared with $403.5 million invested into 34 companies in July 2017.
Online legal advice platform LegalZoom raised $500 million of that capital from investors, including Francisco Partners, Franklin Templeton Services, Neuberger Berman and GPI Capital. The same month a year before, Vroom raised $76.4 million.
In the human biotech sector, deal count and equity invested rose in July 2018 compared with the same month a year before, with $897 million invested into 28 companies, compared with $435.1 million invested into 27 companies in July 2017.
Therapeutics developer Gossamer Bio raised $230 million from investors, including Arch Venture Partners, Invus Group, North Star Venture Management, Hillhouse Capital Management, Omega Fund Management and the Abu Dhabi Investment Authority.
The sector’s biggest deal in July 2017 was Amplyx Pharmaceuticals, which raised $63.4 million.
In the internet content sector, deal count and equity fell. Investors put $174.1 million into 22 companies in July 2018 compared with $407.3 million invested in 27 companies the same month a year ago.
The sector’s biggest deal was Equidate, which raised $50 million from Panorama Point Partners and Operative Capital. In 2017, Direct Vet Marketing raised $223 million.
Lastly, the medical therapeutics sector saw a drop in deal count and increase in equity, with $158.9 million invested into eight companies, compared with $133.9 million invested into 17 companies in July 2017. The sector’s biggest deal was back pain therapy company Relievant Medsystems, which raised $57.7 million from Canaan Partners, Endeavour Vision, Lightstone Ventures, Morgenthaler Ventures, New Enterprise Associates, and Emergent Ventures.
In July 2017, the sector’s biggest deal was Silk Road Medical, which raised $42 million.
Below are the top deals in the five sectors that saw the most deals in July 2018.
Deals.Top 10.U.S.-based.computer software
Deals.Top 10.U.S.-based.ecommerce
Deals.Top 10.U.S.-based.human biotech
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