Posted on: Tuesday, February 8, 2005
BUSINESS BRIEFS
Venture capital $25.6M last year
Advertiser Staff
Hawai'i companies raised $25.6 million in venture capital last year, the most since 2001, according to a survey released today by PriceWaterhouseCoopers.
That includes two deals in the fourth quarter.
Hawaii Biotech Inc. received $1.38 million from Hawaii Venture Group LLC, Invencor Inc. and another undisclosed firm. Hawaii Biotech is researching 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 Case Foundation will contribute $300,000 to help strengthen the University of Hawai'i Business Plan Competition.
The contribution will enable the program to introduce a social enterprise category in the annual competition, said Vance Roley, the newly appointed dean of the College of Business Administration.
Entries in the general category will be accepted until Feb. 17, and in the social enterprise category until Feb. 25. For more information, go to www.cba.hawaii.edu/bpc.
Case Foundation gives $300,000
