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It’s been 13 months since I last met a source for coffee in person. That is, until last week when I nervously waited on the LeStat’s patio in Normal Heights for an acquaintance to arrive.
Coffee meetups and networking events were once the lifeblood of my career. If I wasn’t in the newsroom, there was a good chance I was across the street chatting with a source amidst the buzz of downtown.
But you know the drill. Pandemic. Goodbye, hearty handshakes and awkward hugs with acquaintances, and hello Zoom. Now, in a post-vaccine world, I’m curious if professionals who once relied on networking to do their jobs are dipping their toes back into the social business world.
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Fueled by a barrage of big deals late in the year, San Diego startups raised a record $6.1 billion in venture capital in 2020, despite headwinds from the COVID-19 pandemic.
The gains came largely from biotechnology/life science companies, which saw a flood of investments related to the pandemic. But there was also solid fundraising from software, autonomous driving, logistics and other technology firms.
“I thought after we hit $3.4 billion (in 2019,) if we could replicate that, great,” said Mike Krenn, head of Connect/San Diego Venture Group. “Then COVID hits, and we still crushed it, which is crazy.”
The National Venture Capital Association and PitchBook, a research firm that tracks venture capital, had local startups raising $6.1 billion last year, compared with $3.35 billion in 2019.
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