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The New York Venture Ecosystem Review

New York Skyline

Both local and non-local VC investors agree that New York was resilient in 2021. Deal value in the ecosystem nearly tripled YoY, with increased activity from investors based inside and outside of the CSA. Momentum increased throughout the year, with total deal value growing 62.4% from $10 billion in Q1 to $16.2 billion in Q4. Deal count peaked in Q2 but subsequently declined as larger deals took up the lion’s share of the increased total dollar value. However, deal count still grew 43.8% YoY after stalling in 2020.

Among the report findings:*

  • The New York combined statistical area (CSA) remains a prominent fixture in U.S. VC activity, representing 16.6% of all VC deal value invested in the U.S. in 2021, the highest level since the record 17.4% posted in 2019.
  • Deal sizes and valuations continued to rise in 2021, with the median VC deal size and the median pre-money valuation growing 55.4% and 118.7% year over year (YoY), respectively.
  • Exit value exceeded $100 billion in 2021, growing exponentially as broader economic conditions generated high demand and an IPO-friendly environment.

* All statistics are as of 12/31/2021.

The content of this publication is for information purposes only and should not be considered as a commitment to lend or as legal, financial, accounting or tax advice. First Republic Bank makes no representations, warranties, or other guarantees of any kind as to the accuracy, completeness or timeliness of the information provided in this publication. You should consult with your own professional advisors to fully understand and evaluate the information provided in this publication before making any decision that could affect the legal or financial health of your business.

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