Venture capital investment remains active in Chicago

Chart shows the amount of total venture capital funding of Chicago-based companies as well as the deal count from 2010 to 2023
  • Despite rising interest rates, total 2023 venture capital funding in Chicago-based companies was level with 2019 and 2020 totals, totaling over $1.5B.
  • The decline in funding by total dollar value from 2021 to 2023 in Chicago (-57%) mirrored declines in major U.S. hubs like Manhattan (-76%), Los Angeles (-73%), San Francisco (-59%), and Boston (-65%).
  • The number of Chicago-based companies securing venture funding increased in 2023, marking the second-highest annual deal count since 2010.
  • Most notably, the biotech/life-science sector has experienced more venture capital deals every year since 2018.

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