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Correlation Ventures Reports Record First Quarter for Investments

Correlation Ventures invested a record amount of capital for the firm in new startup companies during first quarter 2014, the firm said.

Correlation — with offices in San Diego and Palo Alta — added nine new portfolio companies during the quarter, investing and reserving more than $17 million for follow-on investments in these companies, bringing its total number of portfolio companies to 80, Correlation said. The firm uses analytic software to help determine its investments.

Correlation’s nine new investments during the first quarter represent diverse sectors, including consumer health and medical devices, digital media, software-as-a-service, and consumer hardware and services, Correlation said.

“We’re pleased that Correlation Ventures is continuing to see such a tremendous response from our VC peers and entrepreneurs to our unique value proposition as the ideal co-investor to fill out VC-led rounds,” said David Coats, Correlation’s co-founder and managing director.

Correlation Ventures, a $165 million venture capital fund, said its investments typically range from $1 million to $4 million, but it will consider smaller investments. It makes decisions in two weeks or less.

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