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The Funded: The Bay Area and New York continue to dominate the VC industry, but a shakeout could be coming

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Record amounts of capital flowed into the venture industry in recent years, but the vast majority of it went to the usual places.

Andreessen Horowitz, headed by partner Marc Andreessen, was among the Valley firms that raised billions of dollars in new capital in recent years.February 17, 2023, 01:02pm PST Updated 18 hours ago

Indeed, some 54% of all megadeals — funding rounds of $100 million or more — from the last four years went to companies based in New York or the Bay Area, PitchBook reported. And 60% of all venture backed companies worth $1 billion or more are based in those two places, according to the report. Indeed, that could be the fate of as many as half of the venture firms in operation today, Techstars CEO Maelle Gavet told CNBC.

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