An interesting chart of where VC fundings took place in Q3 2009.
It comes as no surprise that Silicon Valley (359 deals) leads the pack, but I’m unsurprisingly interested in New York’s performance. The chart lists NYC as responsible for 113 investments, roughly 1/3 as many. Yet in the “lies, damn lies and statistics” vein, I’m curious to note that “Midwest”, “Southeast” and “Northwest” are all single entities on this chart, yet even Upstate New York gets separated out from NYC. I think if Portland and Seattle can be rolled together, there’s an argument that New York City, Upstate New York and Philadelphia represent a “region” as well, much like “New England” presumably includes the large Boston community as well as smaller ones in surrounding cities.
If you permit me this amalgamation, the “New York/Philly Nexus” would now account for 158 investments, close to half (44% for those counting) of the Silicon Valley number. Of course, there are far fewer VCs and venture firms here. I point this out not out of some competitive spite, to to merely address the persistent view I consistently hear that “East Coast” investors are excessively cautious and unwilling to make investments during this tough climate. I think the numbers argue otherwise.