Tuesday, March 11, 2008

New Mexico Tops Fastest Growing Regions For VC

New Mexico was named as the fastest growing region for venture capital investments, according to a report released Tuesday by the National Venture Capital Association (NVCA). The NVCA said in its report that there was a 650% increase in the number of companies, and a 375% increase in dollars in venture investments in New Mexico, over a 10 year period. Comparing investments in 1997 to 2007, New Mexico went from 3 investments to 21 investments, and from $27.03M to $128.26M in total dollars invested in the state. According to the report, which used data from the NVCA/PricewaterhouseCoopers MoneyTree report, the interest in New Mexico was fueled largely by interest in clean technology and alternative energy.