Over the last few decades, NYC has seen significant gentrification and urban revival, particularly in parts of Manhattan and Brooklyn. This, with other factors,

Over the last few decades, NYC has seen significant gentrification and urban revival, particularly in parts of Manhattan and Brooklyn. This, with other factors, made it a very attractive place to live. This brought people. Talented people. The more talented people you have in a concentrated area, the more things 'happen' on a regular basis. It is a culmination of a multitude of factors that is only now bearing fruit. It isn't so much that new venture capital sources are fueling new business creation in NYC. More along the lines of new business creation attracting existing venture capital sources to NYC.