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the quarter, it marked a 41 percent increase over the $146 million that VCs invested in the Evergreen state during the previous quarter. CB Insights notes that Washington was the only major VC recipient to register an increase in funding.
California retained its title as the Golden State for venture capital, with $2.86 billion invested in 309 companies during the first quarter. Funding dipped by 26 percent. While the number of deals remained comparable to previous quarters, the amount of capital invested was a 26 percent decline from the $3.8 billion invested in the previous quarter and a 27 percent decline in the $3.9 billion VCs invested in the year-ago quarter.
Massachusetts and New York continued their close competition for runner-up. VCs invested $650 million in Massachusetts companies, which accounted for 11 percent of all dollars invested, and placed Massachusetts ahead of New York, where VCs invested $333 million. But CB Insights counted 81 deals in New York and 76 in Massachusetts. The Bay State’s gap versus New York seems to worsen in tech, although CB Insights notes that Massachusetts has a more balanced portfolio of investments in healthcare and cleantech.
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