Yep, you read that right. The word on the street is that Silicon Valley investors aren’t as beholden to the tech mecca as they used to be. It seems that less than 10% of VCs living in the valley intend to actually invest there, at least according to the latest Pepperdine Capital Markets Survey. In fact, over 17% named Southern California as the number one area where they expect to invest over the next year. Also of interest is the fact that over 40% of all VC firms in the survey said they are raising money now or will be in the next year.
So what does this mean for lalaland? It means that opportunities should be opening up over the next year for startup firms looking for VC funding in LA, Santa Monica, and the SoCal area in general. So don’t be afraid to put yourself out there! It’s time to attend some mixers and get to know people in the know. Keep your eyes on this space and we’ll keep you posted to upcoming networking events in the SoCal area.
