VC funding reaches new peak

New York City surpasses Boston in venture capital fund raising for the first time since 2001 with a $1.2 billion haul.

Venture capital funding in the New York metro region posted its highest numbers since 2001 in year-end and fourth-quarter totals of 2013. Money invested in New York area companies in the fourth quarter of 2013 was valued at $1.2 billion, a 49% increase over the same period a year ago.

The MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association also showed a 74% increase from the third quarter of 2013, and the October-through-December period was the sixth straight quarter to see year-over-year growth.

The number of businesses receiving money jumped 11%, compared with a year ago, to 123. Among New York City-based companies, MongoDB scored the largest deal, raising $150 million.