How close is the race between New York and the Bay Area for top spot in pre-seed startups?
These two markets are the traditional leaders in startup fundraising, from pre-seed through late-stage. But as much of early funding now goes through SAFEs and Convertible Notes, we thought we'd look into that race in particular.
All data from startups headquartered in these two spots. Total dollars raised, SAFEs or Notes before any priced rounds only. Note that the data refers to the metropolitan statistical areas (MSAs) defined by the US census.
Year after year, the Bay continues to hold the top spot.
If you compare New York to San Francisco directly, the race was quite close, especially in 2022 and 2023. But once you add in the rest of the Bay region (including San Jose, San Mateo, etc), the California locale lead strengthens.
You can start up anywhere, but the home of startups is still San Francisco 🙏
#startups #founders #SAFEs #fundraising #preseed
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