We’d previously highlighted that when it comes to tech venture capital deals and funding, NY had overtaken Massachusetts with the trend starting in Q2’10. But the last time we looked at this was a year ago, and with the Giants win over the Patriots last night, we thought it might be time to see if NY continues to win when it comes to tech venture capital.
As the graph below shows pretty clearly, not only is NY winning on the tech venture capital front, but the trend actually appears to have gained steam since we last ran the numbers in Q4’10. While Massachusetts’ tech scene has gone sideways over the last 9 quarters, NY has shown growth. And this occurred against a backdrop of a record year for venture capital investing in 2011 suggesting that a rising tide in this case did not lift all ships. Of course, it is important to note that when considering aggregate venture capital deals and dollars which would include life sciences and energy/green tech in addition to tech, Massachusetts continues to be the winner.
For those in Beantown, is ceding this much tech VC ground to NYC a cause for concern or just part of the mostly good-natured but heated rivalry between NY and Boston? Given Mike Bloomberg tweeted about our stats the first time we issued them, it seems to be something NYC takes pride in at the highest levels.
RT @NYCMayorsOffice: NYC has surpassed Boston in #venturecapital volume for Internet tech #startups. http://bit.ly/9E1bpP
— Mike Bloomberg (@MikeBloomberg) October 15, 2010
San Francisco suffered a similar fate at the hands of the Giants this football post-season as well. But the west coast needn’t worry quite yet. NY’s dominance of their left coast brethren will have to be limited to football and not venture investing for the foreseeable future.