Chicago's VC Ecosystem Generated Record Funding and Exit Activity During Pandemic
June 22, 2021
Chicago's emerging tech and VC ecosystem set new records for both startup funding and exit activity in 2020.Companies across the region raised a record $2.6 billion in fresh funding, while exits generated $2 billion in value.
This installment of Bridge Bank's Markets to Watch series unpacks the top trends that have defined a decade of considerable maturity for Chicago's VC ecosystem. Additionally, the report contains analysis of the momentum behind its sustained strength in 2021.
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small to mid-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions, including startup banking, capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans and a full line of international products and services. Based in San Jose, Bridge Bank has 15 offices in major markets across the country, along with Western Alliance Bank’s powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation, with more than $60 billion in assets. Western Alliance is #2 best-performing of the 50 largest public U.S. banks in the S&P Global Market Intelligence listing for 2021 and ranks high year after year on the Forbes list of “America’s Best Banks.”