Venture capital funding for San Francisco companies increased by 11 percent between the fourth quarter of 2016 and the first quarter of 2017, bucking an overall trend of declining VC funding in Silicon Valley and the Bay Area.
San Francisco venture capital funding comprised a total of $3.5 billion in Q1 2017, with 161 deals being completed. This funding included a megadeal of $1 billion for hospitality startup AirBnB. While SF funding increased between Q4 2016 and Q1 2017, venture capital funding in the Bay Area overall decreased, as did VC funding in several Silicon Valley cities including Palo Alto, San Jose and Redwood City.
Even though investment in the Bay Area overall and in surrounding cities fell, San Francisco venture capital remained strong.
These latest numbers in venture capital show that San Francisco is a venture capital powerhouse unparalleled by any other city in the United States.
Read more: Silicon Valley Business Journal San Francisco startups saw a major leap in funding in the first quarter