North Texas Startups Received $693 Million in Venture Capital Investment in 2013
Dallas TX (PRWEB) January 30, 2014 -- It’s been well-documented that 2013 was a huge year for North Texas real estate activity, but the results of a new report reveal that last year was also an exemplary one for venture capital investment in the area.
The Dallas Morning News reports that venture capital firms invested more than $693 million into the North Texas startup environment last year, which was more than four times the investment totals for 2012.
Citing the report from PricewaterhouseCoopers LLP and the National Venture Capital Association, and based on data from Thomson Reuters, the newspaper found a remarkable increase in venture capitalist investment from 2012 to 2013, with $126 million brought in for 2012.
Contributing to that massive venture capital firms investment figure for 2013 was a $343 million deal with Genband, a Frisco-based telecommunications company. This marked the biggest deal in the United States for the year. Even without that staggering $343 million deal, the North Texas area would still have nearly tripled its investment totals from 2012.
The momentum that this type of investment provides to the small business environment and local economy in Frisco and around Dallas cannot be understated. Altos Research, a California-based analytics company, found that the median price for a single-family home in Frisco rose steadily and consistently throughout 2013 to where it is now. For the weighted 90-day average, the median price for a new home was around $380,000 to begin 2013. As 2014 got underway, that figure was at the $434,000 mark. Rising median home prices are typically a sign of a hot real estate market that is geared toward sellers as more buyers are competing for the number of homes for sale, and thus are driving up prices as a result.
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“It’s no question that a strong local economy helps the Dallas real estate market and vice versa,” said DD Flynn, VP of Marketing with Prudential Texas Properties. “The fact remains that Dallas, Frisco and the greater North Texas region continue to attract high-tech companies looking to take advantage of the strong field of candidates located here. As that goes, so too will the Dallas-area housing market.”
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Kyle Fitzsimmons, TRIBUS, +1 (877)894-2824 Ext: 3002, [email protected]
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