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CBRE
Brief
 | 
Intelligent Investment
A.I. Fueled Rise in SF Bay Area VC Funding
CBRE RESEARCH
 | 
MAY 2024
Source: CBRE Research, Q1 2024.
The San Francisco Bay Area received $12.6 billion of venture capital (VC) funding across 335 deals in Q1 2024. Artificial intelligence (AI) companies accounted for 60% of total funding or $7.6 billion, its highest quarterly share since tracking began in 2020.
 
The SF Bay Area captured 43% of U.S. venture capital funding volume in Q1 2024, exceeding the next 10 highest metros combined. New York was the second-highest funded metro in Q1 2024 at $4.2 billion across 209 deals.

By sector, SF Bay Area technology companies received $9.9 billion and life sciences companies received $1.8 billion of VC funding in Q1 2024. AI funding deals are across all sectors, but mostly within the technology category.
 
For more information, please contact:

Colin Yasukochi
Executive Director
CBRE Tech Insights Center
colin.yasukochi@cbre.com

Aaron Goodale
Senior Research Analyst
CBRE Research
aaron.goodale@cbre.com
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