Within Pennsylvania, Pittsburgh has a clear lead over all other cities in terms of its venture capital activity. In Q2 2012, Pittsburgh-based companies took one-third of all deals and nearly one-half of all dollars from VC firms.
The nearest challenger was Philadelphia, which experienced a strong Q1 2012 where it matched Pittsburgh in terms of deal volume and exceeded Pittsburgh in terms of funding. However, over the last ten quarters, Pittsburgh has been the consistent leader having taken 24% and 27% of deals and dollars, respectively, while Philadelphia has taken 17% and 12%.
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