Warburg Pincus still heads venture capital pack.

Chemical Venture places No. 2 in Southland ranking

Warburg Pincus Ventures Inc., Century City, continues to head The List of the 25 largest venture capital firms with offices in Los Angeles and Orange counties, according to this week's List.

The firm reported $3.40 billion under management, twice that of No. 2 on The List, and $2.7 billion invested in 205 projects as of March -- a thumping $700.0 million more than the $2.0 billion in 196 projects a year earlier.

The Top 25 List has five newcomers this year:

* Second-ranked Chemical Venture Partners, L.A., had $1.7 billion under management, $1.2 billion invested in 110 projects as of March.

* Eighth-ranked Spectra International Management Group, Beverly Hills, had $195.0 million under management, $145.0 million invested in 43 projects as of March.

* Twenty-third-ranked National Investment Management Inc., Torrance, had $50.0 million under management, $15.0 million invested in 20 projects as of March.

* Twenty-fourth-ranked Drysdale Enterprises, Newport Beach, had $50.0 million under management, $4.0 million invested in seven projects as of March.

* Twenty-fifth-ranked Southern California Ventures, Irvine, had $45.1 million under management, all of it invested in 35 projects as of March.

Dropping out of the top 25 List this year were five firms that were in last year's Top 25:

* Burr Egan Delage & Co., which had ranked fourth with $429.0 million under management last year, closed its Costa Mesa office.

* The company called 3i Corp. (3i Ventures/3i Capital), which had ranked sixth with $400.0 under management, closed its Newport Beach office.

* Atlas Associates Inc., Newport Beach, which had ranked 11th with $110.0 million under management, declined to participate in this year's survey.

* Capital Resources, which had ranked 15th with $100.0 million under management, closed its Mission Viejo office.

* Julian Cole & Stein, L.A., which had ranked 25th with $46.8 million under management, declined to participate in this year's survey.

Enjoying the biggest jump in capital invested over last year was Security Pacific Capital Corp., Costa Mesa, even though displaced to third place from second by newcomer Chemical Venture Partners. Security, with $745.4 million under management vs. $613.7 million a year earlier, had all the $745.4 million invested in 271 projects as of March -- up $733.8 million from the $11.6 million invested in 18 projects a year earlier.

Summit Partners, Newport Beach, which moved up to fourth from fifth place, had the biggest jump in assets under management -- up $275.0 million to $675.0 million as of March from $400.0 million a year earlier. The firm had $320.0 million invested in 85 projects -- up $45.0 million from the $275.0 million invested in 70 projects a year earlier.

Riordan Lewis & Haden, L.A., which slipped to 22nd from 20th, had the biggest drop of assets under management in the Top 25 List, falling by $25.0 million or a third to $50.0 million as of March from $75.0 million a year earlier. Assets invested also fell a third -- to $20.0 million in 19 projects as of March from $30.0 million in 15 projects a year earlier.

The offices of the Top 25 were split almost evenly between the two counties: 13 in L.A. County, 12 in Orange County, even though four of the five firms dropping from this year's List had had their offices in Orange County.