Dec 19, 2016, 6:16 PM
Third quarter VC investments were relatively quiet in Los Angeles when compared to the previous quarter. This was true across the country, but most notably in Los Angeles. Coming off historically high funding in the second quarter (thanks to Snapchat’s $1.27 billion round), the LA area saw an 86% drop in capital to $231.5 million.
Year-to-date funding sits at $2.097 billion—bolstered by a strong Q2. Snapchat’s deal pushed LA to the top of the charts for that quarter, and in part explains the sharp drop off in Q3.
Despite the quarterly decline, Los Angeles still ranked sixth in the nation for total funding amounts this quarter. The majority of VC dollars were focused on expansion and later stage rounds, mirroring the trend nationwide toward less risky ventures as we head into 2017.
For more insight, see how third quarter venture capital funding fared nationwide.
Research: Devon Parry |
Editor: Lillian Veley