PALO ALTO, CA--(Marketwire - Aug 15, 2011) - Cooley LLP today released its most recent report on venture capital financing trends. The report analyzes Cooley's venture capital transactions nationwide that closed during the second quarter of 2011, with comparisons to the first quarter of 2011 as well as prior quarters.

Highlights from the second quarter of 2011 include:

  • Cooley handled 112 deals in Q2, with total deal volume amounting to more than $2 billion in invested capital, a level not seen since 2006.
  • There were more up rounds than at any time since Q4 2009. Up rounds increased to more than 72 percent of financings in Q2.
  • Average valuations for Series A deals were $8 million, a level not seen since Q3 2010.
  • There was a decrease in deals utilizing pay-to-play provisions, to the lowest level since Q4 2007.

"Our deal trends for the second quarter reinforce that the funding environment for emerging companies remained robust, and we saw continued optimism on the part of investors," said Craig Jacoby, head of Cooley's Emerging Companies practice.

Cooley's Private Company Financings Report is published quarterly and is based on private company transactions in which Cooley served as counsel to either the issuing company or the investors. The analysis in this report is based on 112 deals completed in Q2 2011 across the United States, totaling approximately $2 billion. A complete version of the report is available here.

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