Southern California Gains on New England for VC Funding…
March 16th, 2007 by Benjamin KuoWe’ve covered this in socalTECH before, but it looks like the private equity world is finally waking up to the fact that Southern California is now consistently #2 in terms of venture capital funding. Dan Primack, a journalist for Private Equity Week, the Thomson Financial publication that covers private equity and venture capital, mentions in his PE Week Wire email this morning:
*** NVCA president Mark Heesen gave a speech in Colorado last month, in which he mentioned that New England was in danger of losing its traditional position as the #2 regional recipient of venture capital funding (behind perennial leader Silicon Valley). So I looked it up, and he’s right. If the first quarter were to end today, New England would rank just behind Southern California in terms of amount of capital raised (although it has more companies funded). One big reason: VCs are funding as many, if not more, big pharma deals in San Diego as they are in Cambridge/Boston. Final numbers in a few weeks…
(emphasis mine…)