You can read more about that expansion in the Wall Street Journal article titled Marrone Bio Innovations Expands Michigan-Based Manufacturing Facility Through Loan Provided by Five Star Bankand posted on the WSJ website on June 17 th ( ). The only drawback in any of this news is that the $10 million loan to Marrone Bio Innovations announced on June 18 th was for an expansion of their production facility in Michigan. Together, this amounts to just under $100 million in investments in Davis-based companies (that have been announced) in just a little more than 2 months. announced an investment on May 8 th and BioConsortia was announced on April 7 th. Note that Marrone Bio Innovations was mentioned for both June 18 th and June 11 th, Arcadia Biosciences Inc. raised a $15 million round of funding from Khosla Ventures and Otter Capital LLC.
announced it raised $28 million by selling 1.75 million shares of its stock at $16. May 6: Moneta Ventures LP in Folsom launched a new $19 million venture capital fund, which seeks early stage investments in Northern California technology companies.announced it closed a $33 million round of equity financing. May 8: Davis-based Arcadia Biosciences Inc.May 20: Photo station company iSnap announced it raised $1 million in investment money and landed a veteran CEO.June 10: Sacramento-based Greenleaf Power LLC announced it closed a $100 million financing, which it will use to acquire more power plants.June 11: Marrone Bio announced it raised about $40 million with its offering of common stock.is raising $11.3 million in its underwritten public offering.
June 13: Regenerative therapy company Cesca Therapeutics Inc.June 16: Solar farm developer 8minutenergy Renewables LLC received $30 million in financing for a project it is developing in Kern County.June 18: Sacramento’s Five Star Bank made a $10 million government-guaranteed loan for Davis-based Marrone Bio Innovations.The list of investments in his article and the date that they were announced included: Clearly, the Sacramento region is finally finding its economic footing in areas outside of real estate, health care and government.” He goes on to say, “for years, Sacramento’s economy has plodded along while the Bay Area has been booming in deals, fundings and investments. On the good news side, the Sacramento Business Journal published an article titled Tech, energy funding show signs of life in local economy on Wednesday, June 18th describing investments in “local technology and energy companies.” The article by Mark Anderson describes how Sacramento region-based “companies have raised or borrowed more than $315 million so far in the second quarter this year, a sure sign that the local economy is looking up.”
On the other hand, I received an email from one of our local AgTech luminaries highlighting yet another agricultural-based investment that was made somewhere besides Davis. On one hand, three Davis companies were highlighted in a story in the Sacramento Business Journal. This week was an interesting dichotomy of news.
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