New York Pulls Ahead Of Boston For Venture Capital Dollars
BOSTON (CBS) – For more than a year, New York has been surging ahead of Boston when it comes to venture capital for technology companies, a reversal from Boston's past dominance in tech VC on the East Coast.
Julie Donnelly of the Boston Business Journal reports
In the last four quarters, New York companies have raised more money than Boston companies.
But Boston area venture capitalists say the phenomenon doesn't necessarily mean bad things for the region.
Some believe the new dollars flowing to New York would more likely be going to Silicon Valley, not Boston.
And the close proximity of New York and Boston is creating big opportunities for startups — and VCs — to boost their presence in both places.
