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PitchBook Analyst Note: Global VC Ecosystem Rankings

Q4 2023

PitchBook Analyst Note: Global VC Ecosystem Rankings

October 10, 2023

This report was reuploaded on October 11, 2023, to correct the headings in the tables on pages 4 and 6, and on October 23, 2023, to correct the quarter in the chart titles on pages 11 and 12. 

San Francisco tops list of most developed VC ecosystems 

The US and Asia account for the majority of the world’s most developed VC ecosystems, with San Francisco in pole position, according to PitchBook’s new Global VC Ecosystem Rankings. 

The rankings score cities based on the size, maturity, and growth rates of their VC hubs to help stakeholders identify areas of interest. 

While 65% of the hubs with the highest growth rates are in Europe, only one European city landed among the top 20 most developed VC ecosystems. Dubai holds the Number 1 spot for the ecosystem with the fastest growth. 

Table of contents
Key takeaways 1
Introduction 2
PitchBook’s VC Ecosystem Rankings 2
Methodology 10