Companies in the San Francisco Bay Area receive the biggest share of venture capital funding in the United States, with an uptick in funds going to AI companies, a potential bright spot for a region with historically high vacancy rates for its commercial office market.
“VC funding is a leading indicator for the real estate market,” CBRE Tech Insights Center Executive Director Colin Yasukochi said. “These companies are getting funded for growth, they’re hiring more people and creating real estate demand.”
During the first half of 2023, the Bay Area garnered $22.7B of venture capital funding, accounting for approximately 40% of the total nationwide,…