When it comes to seed investments by venture capitalists, recent CB Insights data suggests NY’s seed venture capital investments are gaining momentum at a faster rate than Massachusetts. Q1 and Q2 2010 saw an increase in seed venture capital investments in both Massachusetts and New York but the growth rate and the absolute number of deals was greater in NY in both quarters as detailed below.
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As detailed in our quarterly venture capital report, NY is becoming almost exclusively an internet investment destination with over 70% of deals and dollars going to the internet sector. With its increased investment venture activity in internet companies, the trend to more seed venture deals is not entirely surprising.
As we track deals over time, we will see if NY continues to gather momentum versus Massachusetts in the seed venture capital arena.