Companies in the D.C. area collectively raised more venture capital in the first quarter of 2013 than they had in the past 18 months, according to a new report.
Companies in the metropolitan area raised $286.3 million in 30 deals, a 30 percent increase over the first quarter of 2012.
That includes a $110 million investment in LivingSocial, which surely pumps up the District's numbers a bit. However, according to Brad Phillips at PricewaterhouseCoopers, which compiled the data, " I guess the reason we are so optimistic on the performance of the D.C. market for this quarter is we came up significantly when nationally venture dollars were down."
In addition, 12 of the 30 investments went to early-stage companies.
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