Precursor for future demand? Major industries in Manhattan are receiving optimistic funding so far in 2024

graph of venture funding totals for major industries in Manhattan, annually from 2018 to 2024
  • Office-using industries in Manhattan that have historically relied on venture capital funding have experienced a strong start in 2024.

 

  • In 2023, these top industries secured $36 billion in venture capital funding. Year-to-date in 2024, they have already garnered $21 billion in VC funding, possibly indicating a surge in future demand for office space.

 

  • The substantial funding influx early in 2024 is predominantly attributed to the biotech, life sciences, pharmaceutical, and healthcare sectors. These industries have already attracted $13.8 billion in VC funding, with a significant portion, $13 billion, allocated to Bristol-Myers Squibb.

March 8, 2024

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