Philadelphia’s VC ecosystem had a record-breaking 2021, with almost $8 billion invested during the year. Almost half of that amount was raised by one company, Gopuff, which is becoming a poster child for the city’s consumer scene. Perhaps most tellingly, outside investors are validating Philadelphia’s ecosystem. In 2021, New York-based VCs more than doubled the number of investments they made in Philadelphia. Investors from Silicon Valley and Boston also flocked to the region last year.
In conjunction with PitchBook, PACT has released its 2021 Philadelphia Venture Report. The report covers dealmaking trends across sectors and stages, exits, and fundraising statistics, among others.