Oakland Metro life science and tech funding up 56.1 percent since 2017
The life science sector has a strong presence in Emeryville, Berkeley, and Alameda, where venture capital funding has been flowing into the region at a steadfast pace.
April 23, 2019
- It is no surprise that the life science sector has a strong presence in Emeryville, Berkeley, and Alameda, where venture capital funding has been flowing into the region at a steadfast pace. In 2018, VC funding totaled just over $2.2 billion, up 56.1 percent since 2017. Emeryville collectively received the most funding, totaling about $1.1 billion. Biotech company Zymergen, Inc. scored big in 2018 and accounted for the majority of Oakland Metro VC funding at $400.0 million. Additionally, 2019 is off to a good start as tech company Marqeta locked in $250.0 million in the first quarter.
- In the heat of competition for life science space, some landlords are considering converting existing offices to lab space. On the other hand, select tenants are turning their interests towards Marina Village and Harbor Bay Business Park in Alameda.
- The life science sector will likely continue to drive demand in Oakland Metro this year as no new lab construction is underway and life science space is extremely limited, predominately in Emeryville and Berkeley.
Source: Crunchbase, JLL Research
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