NYCEDC's blog

Venture Capital in New York, Q3 2014

 |  NYCEDC

q3 tech trends

By Kyle Marks, Economics Research and Analysis Project Manager

The latest quarterly figures from CB Insights and PricewaterhouseCoopers are in, and they indicate continued growth of venture capital funding in New York.

Our Q3 Tech Trends and Insights report reveals that the third quarter of 2014 saw the largest amount of VC funding in New York since Q3 2000. New York’s deals fell 9% from Q2 2014, while funding rose 35%. In this time period, New York surged ahead of Massachusetts in VC investment and was behind only California in terms of deals and dollars.  

   venture capital trends

More Report Highlights:

  • New York recorded 107 VC deals in Q3 2014 representing $1.5 billion invested. The number of deals fell 6% from one year ago (Q3 2013) but rose 30% from two years ago (Q3 2012). Dollars invested rose 117% from Q3 2013 and 210% from Q3 2012.
  • Quarter to quarter, New York deals fell from 117 to 107 (down 9%), while dollars invested rose from $1.1 billion to $1.5 billion (up 35%).
  • Investment in the Internet sector continued to drive New York venture capital activity, crossing the one billion dollar threshold to reach $1.16 billion across 85 deals. The sector garnered 64% of VC deals and 76% of VC dollars invested in the four quarters ending in Q3 2014, according to CB Insights data. Internet VC funding rose 123% since Q3 2013.
  • New York recorded over three times as many Internet deals and over five times the level of Internet funding as Massachusetts. New York garnered 21% of the nation’s Internet deals and 26% of Internet VC funding in Q3 2014. 
  • New York City’s Internet and digital media sectors now employ close to 43,000 people, while 19,000 people are employed in Internet and digital media in Boston.

Read the full Tech Trends and Insights report for New York City here. 

For all other Economic Reports, visit our economic data archive on the Economic and Research Analysis page.

Archive

Column

Featured Blog Post