On a list ranking more than one hundred U.S. cities by the amount of venture capital invested in the region’s startups, Philadelphia ranks number 14 with $481 million invested in 2011, according to data from the National Venture Capital Association, Newsworks reports.
San Francisco topped the list with $8.6 billion of venture capital invested in the area, followed by San Jose and Boston.
According to a 2012 regional venture capital study by MoneyTree, this year is on pace to be the slowest year for venture capital funding in the region since 1996. At the current rate of investment, Philly’s startups would see about $390 million by the end of the year.
There is no shortage of young firms in the region and elsewhere focusing on bootstrapping profitable businesses, but investment is still a valuable way to put into context where Philadelphia is seen on the national technology stage.-30-