PitchBook just released its analysis of Q2 2015 venture capital activity by region, focusing on the six of the most active U.S. regions: the Bay Area; Boston; Los Angeles; the Midwest; New York; and the Pacific Northwest. Below is also a quick summary of the Q2 2015 highlights by region:
Bay Area:
- The median pre-money valuation for Q2 2015 was $63.5m (up from $29m for Q4 2014).
- The most active sector (by both deal count and capital invested), by a wide margin, was software.
- The region accounted for 33.2% of total global venture capital invested and 18% of the total global venture capital deal count.
- The reported deals with the highest valuations, by series, were: Zenefits Series C pre-money at $4B; Credit Karma Series D pre-money at $3.33B; Slack Series E pre-money at $2.7B; and Pinterest Series G pre-money at $10.47B.
Boston:
- The median pre-money valuation for Q2 2015 was $40m (up from $25.6m for Q4 2014).
- The two most active sectors (by both deal count and capital invested) were software and pharma & biotech.
- The region accounted for 6.6% of total global venture capital invested and 4.6% of the total global venture capital deal count.
- The reported deals with the highest valuations, by series, were: Layer3 TV Series B pre-money at $338m; DraftKings pre-money at $650m; Infinidat pre-money at $1.05B; and Intarcia Therapeutics pre-money at $5.28B.
- The region’s most active investors (by deal count) were Atlas Ventures, CommonAngels Ventures, Charles River Ventures, General Catalyst Partners, New Enterprise Associates and Polaris Partners.
Los Angeles:
- The median pre-money valuation for Q2 2015 was $13.3m (down from $16.8m for Q4 2014).
- The two most active sectors (by both deal count and capital invested) were software and healthcare devices & supplies.
- The region accounted for 3.6% of total global venture capital invested and 4.4% of the total global venture capital deal count.
- The reported deals with the highest valuations, by series, were: FreedomPop Series B pre-money at $122m; Acorns Series C pre-money at $60m; GumGum Series C pre-money at $141m; and Dollar Shave Club Series D pre-money $540m.
Midwest & Great Lakes:
- The median pre-money valuation for Q2 2015 was $9.7m (down from $10.4m for Q4 2014).
- The two most active sectors (by both deal count and capital invested) were software and healthcare devices & supplies.
- The region accounted for 2.8% of total global venture capital invested and 6.2% of the total global venture capital deal count.
- The reported deals with the highest valuations, by series, were: Livongo Series B pre-money at $67m; Juventas Therapeutics Series B2 pre-money at $62.5m; LeadPages Series B pre-money at $176m; and Centro Series B pre-money $203m.
New York metro:
- The median pre-money valuation for Q2 2015 was $31.2m (up from $15.6m for Q4 2014).
- The two most active sectors (by both deal count and capital invested) were software and commercial services.
- The region accounted for 7.3% of total global venture capital invested and 7% of the total global venture capital deal count.
- The reported deals with the highest valuations, by series, were: Oscar Health Series B pre-money at $1.36B; Blue Apron Series D pre-money at $1.87B; AppNexus pre-money at $1.5B; and WeWork pre-money $9.8B.
- The region’s most active investors (by deal count) were Lerer Hippeau Ventures, RRE Ventures, General Catalyst Partners, Great Oaks Venture Capital and Greycroft Partners.
Pacific Northwest:
- The median pre-money valuation for Q2 2015 was $21.3m (down from $21.5m for Q4 2014).
- The two most active sectors (by both deal count and capital invested) were pharma & biotech and software.
- The region accounted for 3.3% of total global venture capital invested and 3.8% of the total global venture capital deal count.
- The reported deals with the highest valuations, by series, were: iSpot.tv Series B pre-money at $108m; nLight Series B pre-money at $123m; Stratos Genomics Series B pre-money at $191m; and Privateer Holdings Series B pre-money $415m.

