In The News:
Updated: Jun 27
NJ’s Venture Capital Deal Flow More Than Doubles to $5.5 Billion in 2021 as State’s Innovation Ecosystem Sees Flurry of Activity
March 4, 2022 | njbmagazine.com
The New Jersey Economic Development Authority (NJEDA) announced that New Jersey now ranks ninth in the nation based on venture capital (VC) dollars invested per state. According to PitchBook, innovation-focused companies in New Jersey secured $5.5 billion in 219 venture capital deals in 2021, up from $1.7 billion thorough 154 deals in 2020. This represents a significant improvement for New Jersey relative to 2017, when the state saw a total of $818 million in 143 venture capital deals. In this latest ranking, New Jersey jumped three spots from where it stood at #12 in 2020, and seven spots from #16 in 2013. New Jersey’s share of the Northeast market also grew, by 1.4 percentage points in 2021 to 5.5%.
NJ SEED: Venture Capital investment is another indicator that NJ’s economic climate continues to improve.