UPDATE: Scott Burkett has some very valid comments about the early bird not getting the worm.

This morning PricewaterhouseCoopers and the ATDC presented “Shaking the MoneyTree” for Q3 2006.

All in all not a bad quarter for the state of Georgia. $126 million was raised during the quarter by Georgia companies, the largest amount since the fall of 2004. It was also a pretty big increase over the $56 to $70 range raised in the first three quarters of the year and puts the state in sniffing range of the top ten.

A total of 21 companies raised money. ATDC member companies Air2Web, CardioMEMS, EGT, iVivity, Jacket Mirco Devices, and Nexidia collected around $73 million. Seems like a good amount of participation by Atlanta VCs in the majority of the deals. Of the 21 deals, only 3 were early stage.

Nelson Chu of Kinetic Ventures and Max Chee of Millennium Technology Partners gave interesting presentations that I intend to post on later.