NYC Sees Dramatic Rise in VC Funding
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Cynthia Wasserberger and her JLL colleagues predict NYC will break the record of $5.2 billion in venture capital raised in 2014.
NEW YORK CITY—While Silicon Valley remains the number one location for venture capital funding, New York City—or “Silicon Alley,” as it is known in some circles—has seen a dramatic rise in that financial backing.
California’s Silicon Valley saw over $15 million in venture capital financing in the first half of this year, according to a new report by JLL. New York City companies benefited from more than $2 billion in venture capital funding in the second quarter, bringing year-to-date venture capital financing in the city to nearly $4 billion, according to report authors Cynthia Wasserberger, managing director,Jonathan Schifrin, SVP and Hayley Shoener,associate. The New York metro region ranked number two on the venture capital list at $3.745 billion.
JLL predicts that New York City is on track to break the post 2000 record of $5.2 billion raised in 2014. While venture capital deals in the second quarter were distributed throughout the city, Midtown South received the most funding, includingWeWork’s more than $434 million raised and Warby Parker’s $100 million in financing…
