The New and Improved State of NYC Investing
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The New and Improved State of NYC Investing
What a difference a year makes
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A bit over a year ago
A man, his wife and The Beast* moved from Boston to New York
* The 8 pound black, furry creature that lives with them
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A bit of reflection feels in order
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First off…
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The Red Sox won the world series
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Yet activity in New York continues to accelerate
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20
40
60
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$-
$200,000,000
$400,000,000
$600,000,000
$800,000,000
$1,000,000,000
$1,200,000,000
$1,400,000,000
$1,600,000,000
$1,800,000,000
Q1 2009 Q1 2010 Q1 2011 Q1 2012 Q1 2013 Q1 2014 YTD
Investments in NY-based Companies 2009 - 2014 YTD
Dollars Invested Number of Deals Source: Crunchbase
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And living where you hunt helps you eat
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2010 2011 2012 2013
Number of NYC Companies Evaluated by Me by Year
29% CAGR
Source: Me
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Startups here aren’t cheap
SF
AngelList Valuations by Geography
NYC EU
Source: AngelList
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…but the big are getting bigger New capital raised since last presentation (15 months)
+$150M +$79M
+$70M +$40M
+$70M +$72M +$30M
+$47M
+$102M +$17M +$123M
+$30M +$136M +$51M
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New capital raised since last presentation (15 months)
+$150M +$79M
+$70M +$40M
+$70M +$72M +$30M
+$47M
+$102M +$17M +$123M
+$30M +$136M +$51M
$1.02B
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…across a diverse set of industries
+$150M +$79M
+$70M +$40M
+$70M +$72M +$30M
+$47M
+$102M +$17M +$123M
+$30M +$136M +$51M
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…with a healthy set of IPO candidates IPOing and rumored IPO-ready companies
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And, most importantly,
The Beast loves the dog park
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Now for…
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We’re a friendly bunch We’re a friendly bunch
and do more deals with each other than we do with other firms
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Top 3 investment partners by firm
NYC Partner
No NYC Partner
Key
Source: CB Insights
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Tumblr broke the $1B M&A mark…
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…but Fab has seen better days
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No new seed to scale players have entered
Seed/Angel funds with fulltime partners in NYC
Seed to scale funds with fulltime partners in NYC
New Entrants
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And compared to Boston the university startup scene is weak
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But most surprising of all
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Beast has become a Yankees fan
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But we forgive him because NYC is here to stay
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And so are we