Hearst $75 million stake in M2Gen tops Florida start-up funding deals in quarter

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Thanks to a single mammoth injection of venture capital into one of its start-ups, New York City topped the nation’s VC rankings in sheer dollar funding in this year’s third quarter ended Sept. 30.

The nation’s biggest VC commitment is indeed a whopper: $3 billion going to WeWork, a Manhattan-based start-up involved in office rental and co-working space. The money comes from SoftBank Group billionaire Masayoshi Son who has pledged to invest many more billions in U.S. companies in the coming years.

That deal alone translates to 17 cents of every $1 in venture capital funding that occurred nationwide in the quarter.