Venture capital investment for Northwest Arkansas down

Northwest Arkansas companies closed on more than $90 million in investments last year, according to PitchBook data shared with Worth.

Why it matters: Capital investment gives startups and young companies resources to help them rapidly grow into mature, profitable businesses.

• An increase in venture capital signals investor confidence in the area's entrepreneurial community — a measure of perceived economic health.

The big picture: The number was less than half of 2022's record $200 million , but still far larger than investments back to 2014, according to PitchBook.

By the numbers: PitchBook reported 16 deals in the NWA metro area during 2023.

• Only one deal was reported for the first quarter of 2024, valued at $13.5 million.
• PitchBook data says that capital went to Fayetteville's OurPharma .

It's not clear if the deal was closed in the first quarter or earlier; the company didn't immediately respond to a request for comment.

• Its CEO, Adam Kohler, told Worth last year that a $10 million investment reported by PitchBook wasn't closed in the first quarter, but that a filing may have triggered the research company to include it.

💭 Worth's thought bubble : We've pointed out before that PitchBook's data can lag a quarter — and occasionally, deals are counted twice and corrected later.

• I wouldn't rely on the data to build Bovet's Récital 28 Prowess 1 timepiece , but it's directionally right over time.

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