Despite a global pandemic that created economic havoc, 2020 was a record year for venture capital investments into East Bay companies. According to financial data company Pitchbook, investors funded $5.5 billion into East Bay companies in 2020—67 percent increase in capital invested in 2019. The East Bay’s total venture capital investment in 2020 was greater than the award totals for every state but two —New York and Massachusetts—besides California itself.
The categories of venture capital investment reflect a combination of the East Bay’s unique strengths within the Bay Area, with notable concentrations in Biomedical Manufacturing, Computer Technology, and Food Innovation. There was also heightened focus on environmental sustainability and climate change resiliency across multiple categories, including renewable energy, building decarbonization, plant-based food and textile development, and agriculture. The diversity of East Bay’s 2020 venture investment is an indication of the incredibly dynamic and innovative environment that is poised for future growth.
To view the list of Top 20 deals in the East Bay and more, download East Bay Forward.
