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Manhattan's Flatiron district.Manhattan’s Flatiron district. (OpenAperture/Wikimedia)

Startups are increasingly getting financed and conducting deals in New York, leaving lawyers with emerging company practices in the city in the catbird seat.

In 2002, just after the dot-com bubble burst, less than $300 million was invested in New York companies in the earliest stages of formation, compared with over $3 billion in 2015, according to PricewaterhouseCooper’s Money Tree. In recent years, New York and Boston have taken turns occupying the spot behind the Bay Area when it comes to venture capital activities.

While there are many similarities, venture capital lawyers say the startup landscape in New York is unique. That’s prompting some of the largest law firms to hire partners with a proven track record in the city.

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