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Q2 VC Report: $1.1 Billion Invested in San Diego
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Q2 VC Report: $1.1 Billion Invested in San Diego

Learn which local startups received venture capital investments in Q2 2023.

Fred Grier's avatar
Fred Grier
Jul 20, 2023
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Business San Diego
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Q2 VC Report: $1.1 Billion Invested in San Diego
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Learn from San Diego's top entrepreneurs and companies. Every week, I write a newsletter breaking down the business and money in San Diego. Join hundreds of tech professionals, entrepreneurs, and investors by subscribing below.


(Far right) San Diego resident and seasoned entrepreneur Naveen Rao, sold his AI startup MosaicML for $1.3 billion to Databricks in June.

The second quarter proved to be difficult for startups seeking to raise VC funding nationally and in San Diego.

Nationally, VC-backed companies raised $39.8 billion this quarter, down 48 percent compared to last year, according to fresh data provided by Pitchbook-NVCA Venture Monitor report.

San Diego saw an estimated $1.1 billion invested across 47 deals, according to data analyzed by Connect San Diego Venture Group.

The region trailed other major metros including San Francisco ($16.1 billion), Boston ($4.5 billion), Los Angeles ($1.9 billion) and Washington, D.C. ($1.3 billion).

U.S venture capital activity totaled roughly $33 billion in the first half of the year, on pace for the lowest annual total since 2017.

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