Entrepreneurs on AngelList Have Raised $1.1 Billion
AngelList has changed the way companies raise first rounds of venture capital in a huge way, possibly for the first time in Silicon Valley history.
Slightly more than half of the money was raised by Silicon Valley companies. Out of the $572 million raised by Valley companies, $458 million of it was raised by companies based in San Francisco. There had been a massive geographic shift from the Valley’s Peninsula-dominated history, but this stats really put the size of that shift into perspective. (Hence the 23 percent increase in San Francisco rents year-over-year.)
New York is not surprisingly the next most dominant market, with Gotham-based AngelList alums raising $136 million, double LA and three times the once-dominant Massachusetts. Austin-based AngelList companies have raised just $25.2 million, and other much talked about tech ecosystems like Seattle an Boulder didn’t even rank that high.
AngelList has a small international footprint, based on these stats. European AngelList companies have raised just $48.2 million; Canadian companies have raised $25.1 million; Russian companies have raised $14.8 million; and Indian companies have raised $12.7 million. Each of those are so small, they could be greatly skewed by just one deal.
SOURCE: PandoDaily.com, Angel.co