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Los Angeles is the New Home of Large-Scale Venture Capital Funding

While Los Angeles has long been known as a prime locale for seed funding, the latest financial trends reveal that times are changing. Tinseltown is now becoming a place for startups to pursue more expansive venture capital funding , a distinction previously unique to the San Francisco Bay Area. A look at performance statistics of LA venture capitalists offers some insight. California early-stage ­funder Amplify notes that within the last decade, LA startups have raised more than $35 billion , ranking second only to their Silicon Valley counterparts in a 10-year U.S. venture capital funding overview. According to Pitchbook, Los Angeles funders have now raised approximately $12 billion in venture capital from 627 funding efforts in 2019 , landing fifth place in national ranking. Pitchbook noted one of the reasons for the emerging trend. “Until recently, the city’s venture capitalists have been best known for seed rounds in a region that is home to only a few large firms. However, the...

Emily Adeyanju

Dec 17, 2019