Total venture capital funding in the Denver-Boulder market declined by roughly 52% year-over-year through the third quarter to $1.6B as the tech industry waded through economic headwinds like high interest rates and stubborn supply chain bottlenecks, according to new data from CBRE.
The Denver area’s declining VC funding followed a seismic 2022 when the state captured about $3.5B, driven primarily by investments in the tech sector. Those investments ultimately helped some tech companies afford to lease office space, but leasing activity among those companies has declined from roughly 40% of leases signed in the metro area to about 16%, CBRE data shows.
Source: Denver-Area VC Funding Declined 52%, But Life Sciences, Aerospace Offer Hope For Rebound