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Venture capital deals in San Francisco reached a 10-year low in 2020


Despite record-breaking investment in the venture capital industry, the Bay Area saw a sharp decline in angel and seed deals in 2020, according to a report by Pitchbook and the National Venture Capital Association.
In 2020, San Francisco reached only 81.2% of the angel and seed deals it made in 2019. Although it still had more deals than any other city, it recorded a a 10-year low in proportion of total deal count. This means, compared to other major cities, San Francisco was less dominant than it s been in the last decade.
It s easy to attribute this to the pandemic; however, the venture capital industry managed to invest over $150 billion this year for the first time ever. VCs weren t necessarily investing less this newly-remote world just gave other cities a better chance to get in on the action.  ....

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