NC Entrepreneurial Companies Raise Record $2.75B in 2018; Epic Tops List
Last year, fast-growth firms in North Carolina raised a record-setting amount of venture funding, according to the “2018 Innovators Report” by the Council for Entrepreneurial Development. Companies collectively raised nearly $2.75 billion, up 144% from 2017. The state saw 207 venture deals across the IT, life science, clean-tech, advanced manufacturing and materials sectors. “Entrepreneurs continue to be a great source of economic growth for our state and these large investments in local companies help fuel that momentum,” said Ravila Gupta, CEO of the Council for Entrepreneurial Development. The numbers were boosted by Cary-based Epic Games’ $1.25 billion deal, the nation’s largest single venture raise last year. “Notwithstanding the outlier amount raised by Epic Games, North Carolina totaled nearly $1.5 billion in 2018, the most since the turn of the century preceding the dot-com bubble,” the report said.
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