Arkansas breaks through $100 million in venture capital raised
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Arkansas companies raised record-setting $107.6 million in venture capital during 2021, up from $31.4 million raised in 2020.
- The estimated numbers, shared with Axios, are from PitchBook, a private equity database company.
Why it matters: Private investment gives startups and young companies resources to grow more rapidly. An increase in venture capital signals investor confidence in the entrepreneurial community taking hold in the state.
Context: A disclaimer, of sorts. The numbers vary slightly from numbers provided by PitchBook and reported by Axios at the end of the third quarter.
- "Like we often see between quarters, a few deals had changes to their deal date or deal value, and there were also new deals added to the [metropolitan statistical area]," a spokesperson told Axios.
While the value of investments quarter by quarter may not align, the overall values have moved in the same direction.
By the numbers: An estimated 83% of the statewide total was invested in Northwest Arkansas companies in 2021.
- Companies in the Little Rock metro, which includes North Little Rock and Conway, received the rest.
- There were 21 deals reported in NWA and eight in the Little Rock metro.
Zoom out: Venture capital deals in Austin, Texas — a competitor for talent, startups and venture capital — were valued at $4.8 billion last year.