Launch Tennessee (LaunchTN) yesterday issued it first-ever “Tennessee Deal Report” that encompasses all venture capital funding raised by Tennessee start-ups in the second quarter of 2022.
Authored by Evan Prislovsky, Capital Analyst at LaunchTN, the report notes that “Tennessee appears to be somewhat insulated from the national slowdown of funding activity, as we saw a slightly higher total round volume.” For example, the public-private statewide organization reported that 52 companies in the Volunteer State raise $342 million in funding in Q2, a 37 percent increase from Q1. “However, YoY (year-over-year) has shown a 26 percent tumble in Q2, despite the decrease in deal size from last year. Both quarters in Q1 and Q2 have shown increased funding, reflecting continued growth in the ecosystem this year.”
LaunchTN’s summary added, “Over the past few quarters, we noted that the number of deals has appeared steady, but the average deal size has increased. We also noticed investors have been pouring more money into later stage companies as it attracted ~70 percent of all the investments in Q2 compared to the previous quarters.”
The full report can be downloaded here.