Will more venture capital firms relocate to New York?
For Threshold, formerly known as DFJ Venture, planting roots in New York was a business decision, cofounder Emily Melton says. Six of the firm’s most recent investments were based in New York, while nearly 40% of its Fund III companies maintained an East Coast-based founder, says partner Chirag Chotalia, who raised his hand and moved to Manhattan’s SoHo neighborhood in recent months. The firm also hired Megan Kelly, previously of First Round, Thrive Global and J.P. Morgan, as a principal.
Andreessen Horowitz partner David Haber says widespread VC interest in New York should come as no surprise.Anchoring A16Z’s venture fund presence in New York is David Haber, who joined the firm in June from Goldman Sachs. Haber helped open Spark Capital’s office in New York nearly a decade ago before founding Bond Street and selling it to Goldman.
Fintech excitement is only being fueled further by the congregation of crypto and “Web3” founders in New York, says Rosenberg at Greylock. “The culture of crypto is even more decentralized and integrated into culture that’s outside of core software development,” he says. “The new mayorhe’s getting paid in Bitcoin for his first three paychecks. I think the underdog mentality here gives a renewed energy.
Make no mistake: New York still has a long way to go to rival Silicon Valley. As of September 30, investors had poured $38.9 billion into area startups, 154% the city’s previous record, according to PitchBook; over the same period, Bay Area-based startups raked in $88.4 billion, itself up 133% from previous highs. But few investors expect the momentum to evaporate.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TikTok’s New Favorite LBD Is Still In Stock In Every SizeThe perfect slip dress for the holiday season if we say so ourselves. 🤩
Read more »
New York gears up for tourists' return as US lifts banAs the travel ban is lifted hotels and restaurants face challenges in getting service back to normal.
Read more »
Olympic champion Jepchirchir, Korir win New York City MarathonOlympic champion Peres Jepchirchir won the 50th running of the New York City Marathon on Sunday, surviving a thrilling three-way battle before sprinting for the finish line, and fellow Kenyan Albert Korir won the men's race.
Read more »
Incoming New York City Mayor Eric Adams Wants To End School Mask MandateHis comments come as children ages 5 to 11 began to get inoculated with the Pfizer shot last week.
Read more »
You Can Stay in Carrie Bradshaw's New York City Apartment for $23 a NightYes, you read that right. Airbnb is teaming up with Warner Bros. to recreate Carrie Bradshaw's iconic brownstone home, and you can stay there for the cost of dinner in Manhattan. Here's how to book a stay.
Read more »
You Can Stay in Carrie Bradshaw's New York City Apartment for $23 a NightYes, you read that right. Airbnb is teaming up with Warner Bros. to recreate Carrie Bradshaw's iconic brownstone home, and you can stay there for the cost of dinner in Manhattan. Here's how to book a stay.
Read more »