Philadelphia’s VC ecosystem proved resilient in 2022 and now counts itself in the top five ecosystems in the United States in terms of deal flow. The city has taken in more than 1,000 investments over the past two years, worth $12.7 billion altogether. Long known as a biotech hub, Philadelphia is also gaining ground in fintech and consumer and enterprise tech. Perhaps the biggest shift is outside investment – New York- and Bay Area-based investors have supercharged their activity in Philadelphia over the past two years.
In conjunction with PitchBook, PACT Philadelphia has released its 2022 Philadelphia Venture Report. The report covers dealmaking trends across sectors, stages, exits, and fundraising.