Venture Capitalists are optimistic about investing in the Southeast according to the results of a survey released today.
Despite the decrease in worldwide venture funding over the past year, survey respondents, consisting of active national venture capital investors, were highly positive about future investing in the Southeast region.
Over 90% of those VCs surveyed anticipate increasing or at least maintaining their current pace of investing in the Southeast over the next 36 months.
Additional highlights of the survey include:
- 65% of respondents rate the Southeast technology industry as vibrant or healthy.
- 92% were very likely to invest in a new Southeast technology company provided it meets all of their other investment criteria.
- Georgia and North Carolina were rated as offering the best investment opportunities in the Southeast.
- Almost every survey respondent (96%) viewed the current climate for raising a venture fund as very difficult or tougher than usual.
- The top rated investment sectors were: Internet Software & Services, Internet Security, Wireless/Mobile, Medical Devices, Financial Transaction Processing, Web 2.0/Social Media and Green Energy/Clean Tech.
Investors cited growth potential of the business, expected ROI and management team experience as the most important investment criteria when evaluating companies.
The survey of active venture capitalists was presented by the Southeast Venture Conference and Morris, Manning & Martin, LLP.
“These results reinforce the strong outlook for the Southeast technology sector and continued optimism for the region from an investment standpoint,” said Scott Hedrick, Director of the Southeast Venture Conference.
“VCs throughout the country view the Southeast as a hotbed of opportunity for finding technology companies,” commented John Yates, Chair of the Technology Group at Morris, Manning & Martin, LLP. “Our VC Survey highlights the focus of venture investments in key areas such as clean tech, internet security, software-as-a-service, and medical devices.”
About Southeast Venture Conference 2010
The Southeast Venture Conference (www.seventure.org), one of the largest venture forums on the east coast, takes place February 24-25th at the Ritz Carlton in Tysons Corner, Virginia. The mission of the SEVC is to help support the innovation and entrepreneurial activity of emerging high growth technology companies and the resulting economic growth in the greater Southeast and Mid-Atlantic regions. As part of that goal, the SEVC understands the importance of investment capital to this equation and provides a key forum to facilitate the infusion of growth to the technology community.
About Morris, Manning & Martin, LLP
Morris, Manning & Martin (www.mmmlaw.com) is a full-service commercial law firm representing domestic and international clients throughout the United States. Our mission is to be the firm of choice for clients seeking the most creative, comprehensive and effective legal services available. Our legal solutions are delivered by industry-focused, diverse, involved lawyers who are dedicated to our clients’ success, whether in a transaction, in court or in the everyday course of business.
Morris, Manning & Martin enjoys national prominence for its healthcare, intellectual property, capital markets, environmental, green industry, insurance, litigation, mergers and acquisitions, real estate and technology practices. The firm has offices in Atlanta, Savannah, Raleigh-Durham, Taipei, Beijing and Washington, D.C.