New York City startups raised $10.2 billion in venture-capital investment during the first three months of the year, the largest total for any single quarter on record.
That record investment came as the quantity of deals the number of individual startups receiving funding declined…
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VCs are hopeful Biden s infrastructure investments boost startups tackling climate change
Photo illustration: Aïda Amer/Axios. Photo: Mandel Ngan/AFP via Getty Images
After co-piloting President Obama s efforts to fight climate change as vice president, Joe Biden is having his second go, releasing a broad infrastructure proposal his administration hopes will lead to meaningful legislation and investment into stemming U.S. greenhouse emissions.
The big picture: Though there are no concrete programs yet Congress will have to formulate those many in venture capital are hopeful such programs will provide new opportunities for startups tackling climate change.
What they re saying:
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US VC funds raised $74.5 billion in 2020, according to the National Venture Capital Association.
Andreessen Horowitz and Lightspeed Venture Partners closed multiple billion-dollar funds last year.
But money to first-time funds dropped, and the NVCA says that could hurt early-stage startups.
US venture firms filled their coffers at record levels in 2020, but new funds fell behind in raising cash, according to the National Venture Capital Association.
Last year, venture funds closed $74.5 billion in funding, a 30% increase from 2019, the NVCA said in a tweet on Monday. The tweet referenced data from the association s 2021 yearbook, published in partnership with PitchBook.