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Overall venture funding surges in Q3, but tech’s share falls

  • ​After WeWork closed two mega-funding rounds totaling almost $2.5 billion in the third quarter, New York City venture capital surged to its highest quarterly total on record. Approximately $4.2 billion was raised across 152 funding rounds, up from $2.6 billion in the previous quarter.
  • Via Transportation and Bread also closed large funding rounds, raising $200 million and $100 million, respectively.
  • Despite strength in overall funding, the amount raised by firms in the tech industry declined in the third quarter. Tech startups accounted for $1.6 billion of overall funding, down from $2.3 billion in the second quarter.
  • Activity in tech and the larger TAMI sector, however, has held steady. TAMI accounted for 26.7 percent of overall office leasing (by square feet) through the third quarter, just behind FIRE with 27.9 percent. ​

Source: JLL Research, PwC Moneytree​

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