Lisa Chow is the economics reporter at WNYC. She tries to explore in her stories surprising aspects of New York’s many economies—in plain view or hidden, in neighborhoods or sectors.
New York Surpasses Boston in Venture Capital Deals
Monday, January 24, 2011
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.