Fierce Biotech today published the top 15 sites in the US for biotech venture capital in 2013. This according to figures from the National Venture Capital Association (NVCA) as compiled by Thomas Reuters. The findings are not terribly surprising in terms of the rankings -- except it might be a mild surprise that San Francisco outspent Boston/Cambridge on the VC front last year. Otherwise, the rankings look to make sense. Here is the summary below in terms of place, dollars and numbers of deals. The total dollars for the US was $4.5 B.
- San Francisco - $1.15 B - 84 deals
- Boston/Cambridge - $933.6 M - 84 deals
- San Diego - $387.0 M - 36 deals
- Washington DC - $319.6 M - 10 deals
- Oakland, CA - $261.6 M - 20 deals
- Seattle - $238.1 M - 13 deals
- New York City - $135.1 M - 9 deals
- Philadelphia - $133.4 M - 17 deals
- Northern NJ - $131.8 M - 7 deals
- Raleigh-Durham, NC - $118.4 M - 17 deals
One could argue that SF and Oakland should be combined which would change the number one slot to $1.41 B and 104 deals providing further separation from Boston. Although, I'm also not sure why NYC, Northern Jersey and Philadelphia aren't either one entity or perhaps two but not three.
Now for a few factoids. In the Pipeline notes this morning that San Francisco and Boston with their combined total of $2.08 B is greater than Europe's $1.9 B total VC investment for last year. Los Angeles, which ranked number 14 on the list, was only 1% of the total cash spent by US VC in 2013. And, I can't help but note that Denver's $51.8 M spent on VC, ranking it at number 12 in the US, falls well short of the $96 M the Denver Broncos have set aside for one, Peyton Manning. Although as the joke goes, maybe he had a better year.
Posted by Bruce Lehr Mar 6th 2014.