What pandemic? Inside Boston’s scorching VC summer

Filled with invention laboratories, co-working rooms and students, Boston has a ton of managerial characteristics baked into its DNA.

However, when the coronavirus embroiled through the country, the area’s startup scene was stress-tested as badly as other entrepreneurial hubs. Could Boston’s startups still thrive without the city’s robust in-person ecosystems?

Last month, we answered this question universally: Boston-area startups heightened $3.7 billion in Q2, according to CB penetrations, a anatomy we hailed as “record venture capital investment in the period.”

But while high-level, quarterly data is useful directionally, it can gloss over illustrative plunges and meridians. In 2020, things reformed fast.

So, for this month’s Boston-focused column, we looked at the city’s venture capital data on a month-by-month basis to answer the question,” How did the pandemic wallop deal-making in the city ?”

New PitchBook data show that Boston-area startups determined a venture capital dip after March through April, two early pandemic months here in the United Regime. Nonetheless, May and the following table months more than made up for the fall. In fact, Boston-area startups parent more private capital during summer 2020 than they did in summer 2019, suggesting that the pandemic and its follow technological and economic changes have not hurt the area startups in aggregate, but instead rendered a net boon.

Inside Boston’s turbulent venture capital summer

Let’s start with a look at the data in chart form. We invited PitchBook for a look at Boston’s venture reactions on a monthly basis since 2019.

Image Credits: Data and diagram via PitchBook.

Looking at private fund data for Boston-based corporations, we see that December was a very strong month compared to the rest of Q4 2019, but that it was also easily bested by January. February and March were more quiet, resulting us into the pandemic era. But amazingly, April wasn’t a complete mess with more than$ 1 billion in funds vested. May posted a sharp-witted improvement in dollar terms, and June was best of all months in the year so far.