Venture capital funding stays strong in New York

“It was a very good first quarter for venture capital-backed companies in New York. For companies in California and Massachusetts, not so much – writes CRAIN’S New York Business -. Bucking a national downturn that began late last year, VC spending in New York totaled $2.6 billion, a 76% spike over the previous quarter and a 75% improvement over the same period a year ago. That’s according to the Q1 2016 Venture Pulse Report from CB Insights and KPMG.”

In particular: “New York’s good fortune hinged partly on mega deals for WeWork ($430 million), Oscar Health Insurance ($400 million) and Flatiron Health ($175 million). But even without those deals it would have pulled ahead of previous quarters.”

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