Chicago is the number one city for median multiple on invested capital
2019 VC funding in Chicago is tracking for another impressive year with Vistex and FourKites leading the way.
March 19, 2019
- 2019 VC funding in Chicago is tracking for another impressive year with Vistex ($65 M) and FourKites ($50 M) leading the way. From 2013 to 2018, there was a 63% increase in Chicago start up VC funding. Chicago was also just named the number one city in the country by Pitchbook for Median Multiple on Invested Capital (5.6x) followed by Seattle (4.8x).
- Google recently announced they will be adding hundreds of jobs over the next few years to build out their financial hub here. In the past few weeks, Uber and DocuSign also announced they will be expanding their presence in the city and League Inc. is leaving their 2,700 SF coworking space for their own 12,100 SF office to establish a US Headquarters.
- As Chicago continues to make a name for itself as a serious player in the high tech industry, more out of state companies are opening offices in Chicago totaling about 2.5 MSF leased since 2012. Once these companies enter our market, they expand and invest in their teams in the Windy City.
- All of these factors bode well for our market as firms continue to see the value add of having a team in the Windy City.
Source: Fortune Deal Sheet, ChicagoInno, Pitchbook, JLL Research