An increasingly larger percentage of venture capital coming into the Philadelphia region is going to companies based in the city itself, new research from JLL shows, and the trend seems to be continuing despite the Covid-19 pandemic.
A market snapshot report from JLL shows that from 2011 to 2015, about 19.5% of venture capital in the region was invested in Philadelphia-based companies. That shifted in 2016 with 50.5% of venture capital funding going into city firms since then.
A big driver of this trend? The city’s life sciences and biotech boom.
Read more at Philadelphia Business Journal.