Exits are important not only because they validate new technologies but also because they provide money to fund new rounds of investments. A roaring fourth quarter for New York State led to the highest growth rates in the nation in both VC funding and deals, ahead of growth in California and Massachusetts. Both the number of deals in the fourth quarter, 97, and their value, $572 million, represented a 24% increase over third-quarter figures. The number of deals was also approximately evenly distributed between Seed, Series A and later rounds, suggesting that financing is available at each stage of the fundraising process.
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