There’s no question you can found a great B2B company anywhere today. Hopefully, Canva will IPO soon — straight from Australia. Several of the latest B2B IPOs are HQ’s far from SF, from Klaviyo to Onestream.
But venture capital? Well, in the Age of AI it’s become radically centered in the SF Bay Area again.
This latest slide from Pitchbook really illustrates the trend:
Yes, these numbers are inflated by the mega AI deals, from OpenAI to Databricks and more. But so what? It’s still venture capital, and it still shows where the money is.
By deal count, it’s less extreme, and New York looks much stronger:
But still, the big money in venture is in the SF Bay.
It’s just a fact.
And a related post here:
