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New York Surpasses Boston in Venture Capital Deals

Monday, January 24, 2011

WNYC

New York City and Boston are vying for the No. 2 spot in Venture Capital Deals following Silicon Valley.

New data released by Dow Jones VentureSource shows that New York City companies — for the first time — secured a greater number of venture capital deals than Boston companies did in 2010. But, when it comes to the amount of money invested last year, Boston surpassed New York City by a margin of two percent.

New York City raised $2.1 billion for 341 deals, while Boston raised $2.2 billion for 273 deals, according to Dow Jones. The two cities still seriously lag behind the Bay area, which raised $9.5 billion for 820 deals.

Last week, the National Venture Capital Association and PricewaterhouseCoopers released a similar report, based on data by Thomson Reuters. Its report showed that New York City ended 2010 with $1.9 billion of venture capital funding for 350 deals, and Boston raised $2.1 billion for 313 deals.

Thomson Reuters and Dow Jones are competitors in the industry of business news and data.

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