New York Surpasses Boston In VC Deals

BostonThe Big Apple tech scene may have some way to go surpassing Silicon Valley, but a new report indicates it has eclipsed its closest rival–Massachusetts. Of course, by eclipse is meant in terms of VC deals made in the last five quarters. The data courtesy of CB Insight can be viewed here.

Though the numbers are in New York’s favor, the same report sheds light on a crucial factor that still gives Mass. the edge: diversity. An entire eco system of social media may be risign from new York, but Massachusetts enjoys a broader variety of industries that VCs are pouring money into. Here it is in CB Insight’s own words:

“…it’s also worth noting that the debate about total venture dollars and deals misses the mark as it doesn’t recognize the heterogeneity of venture capital markets.  The reality as the data below will show is that NY does not hold a candle to Massachusetts in healthcare venture capital with Massachusetts having 146 deals over the last five quarters while NY had a meager 24.  Healthcare venture capital investments which are more capital intensive also may mean that Massachusetts will retain its place as the #2 spot for total VC dollars for quite a while.”

Via: Mass High Tech