Sundrop, Boulder Wind led 3Q VC

BOULDER – Two clean-tech companies in the Boulder Valley received about 45 percent of the venture capital received by firms in Colorado during the third quarter, according to the MoneyTree Report compiled by PricewaterhouseCoopers and the National Venture Capital Association using data provided by Thomson Reuters.

For the quarter, 11 area companies received $98.4 million of the $157.6 million invested in Colorado in 24 deals, about 62 percent.

The top two deals in the state went to Sundrop Fuels Inc. in Louisville, $35.9 million; and Boulder Wind Power Inc. in Boulder, $35 million. At the close of the third quarter MoneyTree reporting cycle, only a portion of the $175 million Sundrop Fuels deal was captured. Chesapeake Energy Corp. and Oak Investment Partners are backing Sundrop.

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The third-largest deal went to Boulder-based Minute Key Inc., $10.6 million. Minute Key manufactures self-service, key-making machines.

Other area companies receiving funding during the third quarter were Occipital Inc., Boulder, $7 million; Aztek Networks Inc., Boulder, $3 million; SolidFire Inc., Boulder, $2 million; OpenLogic Inc., Broomfield, $1,999,900; Connection Engine Inc., Boulder, $1,050,000; Mosaic Biosciences Inc., Boulder, $1,030,000; Everlater Inc., Boulder, $401,000; and DCS Surgical Inc., Boulder, $300,000.

The third quarter experienced a slight decrease in venture capital investment activity in the state. The $157 million is a decrease of approximately $50 million when compared with the second quarter of this year.

From an industry perspective, the industrial/energy, software and information technology, and biotechnology sectors are the top four recipients of year to date funding in Colorado.