Posted at 12:18 p.m., Monday, February 7, 2005
Hawai'i companies raise $25M in venture capital
Advertiser Staff
Hawai'i companies raised $25.6 million in venture capital last year, which was the highest level since 2001, according to according to a survey released today by PriceWaterhouseCoopers.That includes two deals done in the fourth quarter when Hawaii Biotech Inc. received $1.38 million from Hawaii Venture Group LLC, Invencor Inc. and another undisclosed firm. Hawaii Biotech is researching a variety of antidotes including vaccines for the West Nile virus and dengue fever.
The other deal involved Coral Wireless LLC, which received $472,000 in investments during the quarter from M/C Venture Partners. Coral has lined up more than $8 million in financing to build a wireless communications network on O'ahu.
The survey only includes investments voluntarily disclosed by venture capital firms.
