Pitchbook's Top 20 VC Ecosystems in the World 2023

Last month, PitchBook launched their VC Ecosystem Rankings which compares and scores VC ecosystems based on their development and growth rates.

Their Development Score evaluates the size and maturity of ecosystems, and elite cities are topping the charts as undisputed VC meccas, boasting impressive capital-raising records, startup deals, and a rich history of successful VC-backed exits.

San Francisco stands unmatched as the world's leading VC ecosystem.

From Q3 2017 to Q2 2023, US $364.5 billion poured into San Francisco-based startups; for context, startups in New York secured less than half of this amount.

Zooming out with a wider lens reveals that the US accounts for 9 of the 20 most developed VC ecosystems.

Asia accounts for 8 VC hotspots, while Europe only accounts for 2 VC hotspots.

Tel Aviv is the only Middle Eastern city to make the Top 20 list.