In 2012, Philadelphia had $347 million in venture investment, according to The Atlantic. That’s 1.3 percent of the total venture investment around the country and it places Philly as number 11 on a list of the top locations for venture capital.
To be sure for a top 5 U.S. market, that share should likely be larger, but Philly fits into a broader narrative too.
In the story, The Atlantic notes that venture capital is more distributed than it was in late 1980s. In other words, Silicon Valley isn’t as dominant as it once was. It ranks second on The Atlantic’s list, with nearly $4 billion in investment. The top spot goes to San Francisco and Oakland, which the story differentiates from Silicon Valley, with nearly $7 billion in investment.
Also of note: The Boston-Washington corridor, which includes Philadelphia, makes up 23 percent of the country’s total venture investment, according to The Atlantic.-30-
Curalate, one of Center City’s most prominent early tech darlings, has been acquired
Fintech startup Nth Round aims to help company leaders, employees manage their equity
Money Moves: These 8 Philly-area companies raised more than $118M total this spring
Philly PPE’s vending machines can replenish your mask supply starting this month
Sign-up for daily news updates from Technical.ly Philadelphia