Streams

Boston Edges Out NYC in Latest Round of Venture Capital Funding, Reports Show

Friday, July 20, 2012

Two reports released Friday show New York City raised less venture capital money in the second quarter than perennial rival Boston, though how much less depends on the report.

According to data from Dow Jones VentureSource, New York City raised $605 million on 109 VC deals in Q2 while Boston pulled in 13 percent more — or $683 million — on just 80 deals. 

It was an improvement from the first three months of the year when the Big Apple raised just $327 million while Beantown seemed to have all the beans, pulling in $1.9 billion.

Both cities raked in far less this quarter than Silicon Valley, where companies raised more than $3.1 billion.

The largest deal in New York was $42.2 million for open source database creator 10gen, followed by $40 million for Brooklyn-based e-commerce site Etsy. Healthcare companies Epizyme and Mitralign topped the list in Boston.

A separate report gave Boston a more definitive lead in the race for financing, showing companies there raised about $280 million more than those in New York in the second quarter.

Boston firms brought in $746 million, whereas New York raised only $466 million, according to that study from PricewaterhouseCoopers and the National Venture Capital Association used data provided by Thomson Reuters.

Overall, the report showed venture capital financing jumped 18 percent nationwide in the second quarter to $7 billion, and the number of deals was up 11 percent to 898.

 

Tags:

More in:

News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Comments [1]

TimmyJ from Boston

I think the important statistic is that regional VCs are getting backed, plus more software then bad business ideas and alot more VCs are backed from people with startup experience http://www.businessweek.com/news/2012-07-02/groupon-chairman-eric-lefkofsky-shifts-focus-to-investment-firm

Aug. 01 2012 01:25 PM

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.

Sponsored

Latest Newscast

 

 

Support

WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public

Feeds

Supported by