While everyone knows anecdotally that California is the place to go if you’re looking for a drink from the venture capital fountain, PitchBook’s second quarter Venture Monitor report makes it clear just how disproportionate of a role the West Coast plays in funding startups.
PitchBook reports that the US VC industry has raised $US19 billion in the first half of 2017 — nearly $US130 billion has been raised since the beginning of 2014.
In Q2 2017, the West Coast had 40.8% of the deals, and 55% of the deal value. Those numbers were distantly followed by the Mid-Atlantic — likely buoyed by New York City — which had 19.3% of Q2 deals, and 15.5% of deal value.
New England was the third most active region, with 8.4% of deals, and 10.5% of deal value. After that came the Great Lakes, with 8.2% of deals, and 6.9% of deal values; the South East, with 7.7% of deals, and 4.5% of deal value; the Mountain region, with 7.6% of deals, and 3.9% of deal value; and the South, with 6.6% of deals, and 3.5% of deal value.
The Midwest bottomed out the list, with only 1.4% of deals, and 0.3% of deal value.