We’re on a roll now! Initial Q3 data shows modest but steady growth in seed deals in NYC, both in completed deals and dollars raised. To date, 39 deals have been reported, up 5% from this time last quarter and 15% from Q3 last year. These deals raked in a total of $69.7MM in funding, which is up 4% from Q2 and 16% from Q3 2016.
Average round size continues to hover around $1.8MM, but investors continue to show favor toward larger round sizes. In Q3, 36% of deals fell into the $2.5MM-$3.5MM bucket, up almost 10% from last quarter. The quarter also saw an uptick in smaller rounds – $250K-$1MM – perhaps a sign of renewed confidence in the ecosystem as investors take pre-seed bets on promising companies. And thanks to a record-breaking run of VC fundraising in the first half of the year ($19 billion, to be exact), capital investments should continue to stay apace well into next year.