Which Markets Are the Most And Least Served by Seed Investors?

About a year ago, my partner David Beisel talked about how seed fundraising is no longer a local game, and that the best entrepreneurs seek out the best investors for them outside of their home market. That being said, it’s much easier to put a seed round together when you have a local lead who can help catalyze the round. So much of seed investing is about the team, and it’s just much easier to build conviction around a team when you can meet at moment’s notice and spend time together in-person.

As a firm that has a thematic focus and is comfortable investing nationally, we routinely think about how to best allocate our time physically across multiple markets.

Anecdotally we’ve heard the sentiment that there are still very few firms who can lead seed rounds in New York, while we’ve also seen a recent uptick of Boston

Seed VCs Who Lead Home Market
Lead Seed $ per "High Potential Startup" (in $M)
Seed Investing Crowdedness

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