When I moved to Los Angeles, I didn’t know it was going to turn into a hotbed of startup activity. VentureBeat has the scoop.
Venture capitalists invested $1.122 billion into Southern California companies during the first quarter, compared to only $984 million into the Northeast companies centered around Boston, according to VentureOne/Ernst & Young.
VentureBeat reports that Southern California has surpassed the Northeast in VC investment for three straight quarters, proving a trend. Between Silicon Valley and SoCal, the state of California now receives more than half of all North American venture capital money.