Many venture capitalists base themselves in New York City for proximity to the advertising industry, big media, Wall Street, and investors. (And because it’s great here!) But they’re still spending the vast majority of their money elsewhere.
According to ChubbyBrain, which aggregates startup and investor information, some 47 New York venture capital firms funded startups with more than $2 billion in the first half of 2009. But only 10% of that money went to New York City-based startups, while the biggest chunk went to California-based companies.
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