Despite the continuation of a decline in the number of funding deals in the region, more venture money went to Bay Area startups in 2017.
While the number of deals done dropped by about a thirds from last year, $33.5 billion was still invested in VC-backed businesses.
According to a report from the National Venture Capital Association and PitchBook Data., the biggest drop has come at the angel and seed funding level with a 30% decline in deals compared to 2016.
Later stage funding of unicorns and more mature companies on the other hand actually rose. Though they made up only about 1% of last year’s deals, they received nearly 23% of the dollars invested.
Read more: San Francisco Business Times, The Venture Gap: Dollars invested rose in Bay Area despite 6-year low in number of deals