New York City’s venture capital figures in our Q2 2010 Venture Capital Activity Report were notable not for their funding volume or deal numbers (deals up modestly and funding down) but primarily because of what sectors saw venture dollars and deals in NYC. Or maybe we should say, which sector.
Of the three major venture capital hubs, California, Massachusetts and New York, NY state (which is primarily driven by NYC), based on the data, is the most skewed to the internet sector. In Q2 2010, an eye-popping 70%+ of funding and deals in NY went to internet companies.
The sectors receiving venture capital investment in New York in Q2 2010 can be seen below.
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