Venture capitalists poured a record-high $13 billion into New York-area tech companies last year as the city’s tech community continued to expand at a breakneck pace, according to the MoneyTree Report from PricewaterhouseCoopers and CB Insights.
As reported by Crains New York Business A record 735 separate deals were closed for city’s fastest-growing sector. Capital placements soared despite a decline in activity in the fourth quarter, which saw VC funding fall 65% from the previous quarter to $2.1 billion. The number of deals declined both for the year and the quarter compared with the same periods a year ago, in line with the national trend, which saw fewer but larger deals dominate the venture capital scene.
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