NY Metro Companies Receive $2.72B In VC Money

According to the National Venture Capital Association and PricewaterhouseCoopers, a total of 379 firms received a total of $2.72 billion dollars in investment. From the same report, the fourth quarter last year found 82 firms receiving $545.1 million in VC funding.

One of the more heavily invested sectors in the NY venture market is media and entertainment, with 18 firms grabbing $109.5 million. Some of the firms that received funding recently are dating idea website HowAboutWe.com with $15 million, Fab.com with $40 million and Lot 18 with $33.6 million.

“There’s a tremendous amount of entrepreneurs and venture capitalists melding together in New York, and we are seeing the results are taking off,” said David Silverstein, a managing partner at PricewaterhouseCoopers’ New York metro emerging company practice.

Via: Crain’s NY