A couple of years ago, seed venture capital investor Jeff Clavier would only invest in start-up firms based near his Silicon Valley offices. Like a lot of Valley denizens, he thought there weren’t enough talented software engineers outside the San Francisco Bay Area capable of building a viable company. dailystartup_D_20090806101628.jpgThe Manhattan offices of Foursquare, a Silicon Alley start-up.
But in the last year or so, Clavier has been making quarterly schleps to New York to hunt for deals. The founder of a small but influential venture firm called SoftTechVC, Clavier has so far invested in six New York-based start-ups, including URL shortener bitly, online marketing tool FanBridge, and Web video maker Animoto Productions.
“New York is completely credible now,” said Clavier. “Ever since the financial implosion you had labor available.”
To read the full, original article click on this link: Silicon Valley Goes Deal-Hunting in NYC - Venture Capital Dispatch - WSJ
Author: Spencer Ante
