Tim Holl, a partner in the San Diego office of Ernst & Young, which works with Dow Jones VentureSource, said 2015 appears to have been an outlier. In an average year, San Diego gets about $1 billion and 90 to 100 investments, he said, similar to the data VentureSource reported for 2016. Venture capital dollars are kind of relegating back to the norm, he commercial real estate interest rates said. In the fourth quarter of 2016, companies in San Diego doing drug development got $53 million; those making medical lab instruments and test kits received $43.5 million; and biotechnology firms received $14.12 million, VentureSource reported. Technology firms also got in on the action: Classy Inc., a software firm, got $30 million; cybersecurity company Proficio Inc. raised $12 million. Holl said the companies that had received funding were representative of the strengths of the regions business community. Its a good cross-population of what San Diego is good at, he said. Funding may have been slower than it would have otherwise been in the third and fourth quarters of 2016 because of the uncertainty surrounding the U.S.
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