More than 110 venture-backed companies nationwide were able to cash out through mergers, acquisitions, buyouts or initial public offerings in the third quarter, though only one of the businesses is based in Illinois.
During the period, 102 venture-backed companies found partners for mergers, acquisitions or buyouts and netted $5.7 billion. That’s up from $3.3 billion in the same period a year ago, according to numbers released Friday by data tracker Dow Jones VentureSource.
Another nine venture-backed companies raised $723 million in IPOs, up from the $451 million raised in the same period a year ago.
The Illinois business, Chicago-based Envestnet, is a Web-based services provider to the financial industry. It raised $42 million when it went public in July, VentureSource said. It was the smallest of the nine IPOs in the quarter, it said.
Envestnet’s venture backers have included GRP Partners of Los Angeles; Foundation Capital of Menlo Park, Calif.; Apex of Chicago; and Edgewater Funds of Chicago.