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VC in Louisville: What’s the Number?

February 2, 2015

How much venture capital went into Louisville-based companies during 2014? I’m not sure. But, listed below are several reported amounts.

According to this WSJ interactive map of Venture Capital Investment by State, Kentucky–the whole Commonwealth–received $23.1M in 2014.

The National Venture Capital Association reports in Investment Data by MSA for 2014 that the Louisville, KY-IN MSA ranked 54th out of 160 MSAs with five (5) deals receiving $46.01M.

According to the BioEnterprise Midwest Healthcare Growth Capital Report, Louisville had two (2) healthcare companies raise a total of $51M.

State Science & Technology Institute (SSTI) has a table Venture Capital Dollars by State, 2009-2014 which indicates Kentucky had thirteen (13) deals receiving $47.4M.

 

When I do my own check of Dow Jones VentureSource–throwing in Crestwood, KY–I come up with four (4) companies raising a total of $9.25M.

 

So what is the real number? I have no idea.

 

Two additional data points…

From the Kauffman Foundation in Six Myths About Venture Capital Offer Dose of Reality to Startups in Harvard Business Review article; “VC financing is the exception, not the norm, for startups. Historically, less than 1% of U.S. companies have raised capital from VCs.”

However, “University spin-offs that receive venture capital funding have a 20% to 26% higher likelihood of commercialization compared with spin-offs that do not,” according to Christopher S. Hayter in Harnessing University Entrepreneurship for Economic Growth.

 

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