VC funding soars nationally in 2Q however not in Pittsburgh – WPXI

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During second quarter 2021, VC investment accelerated nationally but dollars and deals were low in Pittsburgh.

July 14, 2021 at 11:48 am EDTBy Patty Tascarella

PITTSBURGH — Nationally, venture capital investment by mid-2021 is on track for record highs with dollars just 10% short of 2020′s 12-month total of $164.3 billion.

But Pittsburgh is stuck in a lackluster pace for both deals and dollar volume.

In fact, the second quarter saw just 11 local tech companies raising a combined $40.36 million, the lowest number of deals in a decade and the fewest dollars in more than two years, according to the PitchBook-NVCA Venture Monitor, released on July 14. NVCA is short for National Venture Capital Association.

Read more from our news partners at the Pittsburgh Business Times.

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