Salesforce technical advisor Larry Salomon answers the phone dressed as Albert Einstein at the Dreamforce 2024 conference in San Francisco. Photo by Lee Suzuki/San Francisco Chronicle via Getty Images
San Francisco is a prodigy city on the West Coast that stands as a pioneer in innovation and entrepreneurship, especially when it comes to venture capital. The city is renowned for attracting founders from all walks of life who want to make their mark in the tech industry.
While the COVID-19 pandemic has brought unprecedented changes to work culture and threatened to disrupt San Francisco’s tech dominance, the city continues to attract the bulk of venture capital investment.
According to PitchBook’s (MORN) Global VC Ecosystem Rankings, a staggering $430 billion in venture capital will be pumped into San Francisco-based startups between 2018 and Q2 2024. That’s more than double the amount pumped into second-place New York, followed by Los Angeles in third place.
Globally, the US dominates with a staggering $1.2 trillion in deal volume, ahead of China’s $545 billion and the UK’s $144 billion, and with over $300 billion in “dry powder” (cash waiting to be invested), the potential for innovation is enormous.
As San Francisco further cements its place in the tech world, much of that unallocated capital will likely back ambitious projects from emerging AI startups.
Here are the top 15 cities in the world for startups, their deal value (funding received) and deal count (number of deals signed).
