PitchBook Analyst Note: The Bay Area Still Holds the Keys to VC

Years of simmering tensions in the Bay Area seemed to boil over with the ongoing COVID-19 pandemic, pushing several large tech companies to relocate while others made "work from home" a full-time endeavor, prompting many investors and workers to move. The narrative quickly arose that this time was different, that the Bay Area tech scene as we know it would be lost, and VC would find a new home.

The data tells a different story. Clearly, while the pandemic’s impact on the venture industry will be felt in years to come, VC will continue be centered on the Silicon Valley.