Report: Bay Area Remains Top VC Market in the U.S.
Venture capital funding in the United States has not been deterred by the pandemic or economic volatility, according to a new report from CBRE, with 2022 seeing the second-highest funding ever at $174 billion. The San Francisco Bay Area remains the country’s VC darling, pulling in 35% of the available funding, easily outdistancing New York which finished second at 12%.
Within the market, the city of San Francisco captured one-half of available venture capital, pulling in $31 billion across 973 deals, while San Mateo County saw the largest average deal size at $40 million.
Tech companies accounted for most of the funding both across the country and in the Bay Area. About three-quarters of the region’s tech VC funding went to software companies, followed by e-commerce and cloud companies. Life sciences saw the most funding growth in 2022, increasing from an 8% share in 2021 to a 19% share.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.