A recently issued analysis by Revolution, better known as the “Rise of the Rest” team, reveals that investor interest is increasingly tipping towards “rising cities.” One of those is Nashville.
Titled “Beyond Silicon Valley,” the report shows that Music City ranked #21 over the past decade among Bay Area-based investors who made investments in seed and early stage ventures not located in the Bay Area. For New York-based investors, Nashville ranked #22.
Music City is one of four metro areas in nearby states that showed similar interest from venture funds. The highest ranked city was Atlanta (#7 among New York City-based investors and #9 among those from the Bay Area), while Raleigh ranked #13 among both and Columbus placed #12 among those from New York and #19 for those based in the Bay Area.
“We think Nashville is poised to become a breakout venture hub in as quickly as three to five years,” Monique Villa of Mucker Capital and Build in SE, is quoted as saying. “More and more entrepreneurs are relocating here from the Bay Area, New York, and Los Angeles, and several venture firms have opened offices in Nashville. Even corporations are moving here, the biggest being AllianceBernstein, which manages almost $600 billion of assets. It moved its headquarters from Wall Street, where it had been since its founding.”