* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, July 22, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    ‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

    Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

    12 ‘Late Show’ Moments Proving Stephen Colbert Can’t Be Replaced – The Mountaineer

    12 Unforgettable ‘Late Show’ Moments That Prove Stephen Colbert Is Truly One of a Kind

    Canes owner Tom Dundon’s real estate firm eyes entertainment complex near RDU – The Business Journals

    Canes Owner Tom Dundon’s Real Estate Firm Unveils Plans for Thrilling New Entertainment Complex Near RDU

    Inspired Entertainment, Inc.’s (NASDAQ:INSE) Price Is Right But Growth Is Lacking After Shares Rocket 29% – simplywall.st

    Inspired Entertainment Soars 29% but Growth Momentum Falls Short

    Kroger shares summer entertainment tips – Supermarket Perimeter

    Ultimate Summer Entertainment Tips to Make Your Season Unforgettable

    Theater at Santa Fe’s San Isidro Plaza will be converted into IMAX, family entertainment venue – Santa Fe New Mexican

    Santa Fe’s San Isidro Plaza Theater Transforms into Exciting IMAX Family Entertainment Venue

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Transformative technology, support for food entrepreneurs spotlighted – University of Hawaii System

    How Transformative Technology and Support Are Empowering Food Entrepreneurs

    Cold Weather Alloy Opens New Possibilities for Space Technology – Universe Today

    Revolutionary Cold Weather Alloy Unlocks New Frontiers in Space Technology

    Defence Holdings PLC Transitions from Esports to Pioneering Defence Technology

    Bull of the Day: Credo Technology Group (CRDO) – Yahoo Finance

    Bull of the Day: Why Credo Technology Group (CRDO) Is Poised for a Breakout

    BlackSky Technology Inc. Stock Analysis and Forecast – Explosive wealth accumulation – Jammu Links News

    BlackSky Technology Inc.: Unlocking Explosive Wealth Potential Through Expert Stock Analysis and Forecast

    Polypurine Hairpin Technology is Safe, Effective at Inhibiting PCSK9 to Regulate Cholesterol – Pharmacy Times

    Polypurine Hairpin Technology: A Safe and Powerful Breakthrough for Controlling Cholesterol by Targeting PCSK9

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    ‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

    Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

    12 ‘Late Show’ Moments Proving Stephen Colbert Can’t Be Replaced – The Mountaineer

    12 Unforgettable ‘Late Show’ Moments That Prove Stephen Colbert Is Truly One of a Kind

    Canes owner Tom Dundon’s real estate firm eyes entertainment complex near RDU – The Business Journals

    Canes Owner Tom Dundon’s Real Estate Firm Unveils Plans for Thrilling New Entertainment Complex Near RDU

    Inspired Entertainment, Inc.’s (NASDAQ:INSE) Price Is Right But Growth Is Lacking After Shares Rocket 29% – simplywall.st

    Inspired Entertainment Soars 29% but Growth Momentum Falls Short

    Kroger shares summer entertainment tips – Supermarket Perimeter

    Ultimate Summer Entertainment Tips to Make Your Season Unforgettable

    Theater at Santa Fe’s San Isidro Plaza will be converted into IMAX, family entertainment venue – Santa Fe New Mexican

    Santa Fe’s San Isidro Plaza Theater Transforms into Exciting IMAX Family Entertainment Venue

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Transformative technology, support for food entrepreneurs spotlighted – University of Hawaii System

    How Transformative Technology and Support Are Empowering Food Entrepreneurs

    Cold Weather Alloy Opens New Possibilities for Space Technology – Universe Today

    Revolutionary Cold Weather Alloy Unlocks New Frontiers in Space Technology

    Defence Holdings PLC Transitions from Esports to Pioneering Defence Technology

    Bull of the Day: Credo Technology Group (CRDO) – Yahoo Finance

    Bull of the Day: Why Credo Technology Group (CRDO) Is Poised for a Breakout

    BlackSky Technology Inc. Stock Analysis and Forecast – Explosive wealth accumulation – Jammu Links News

    BlackSky Technology Inc.: Unlocking Explosive Wealth Potential Through Expert Stock Analysis and Forecast

    Polypurine Hairpin Technology is Safe, Effective at Inhibiting PCSK9 to Regulate Cholesterol – Pharmacy Times

    Polypurine Hairpin Technology: A Safe and Powerful Breakthrough for Controlling Cholesterol by Targeting PCSK9

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

San Francisco’s new venture capital hotspot: The Presidio

July 9, 2023
in Business
San Francisco’s new venture capital hotspot: The Presidio
Share on FacebookShare on Twitter

Investing.com - Financial Markets Worldwide

Please try another search

Published Jul 08, 2023 06:02AM ET
Updated Jul 08, 2023 09:08AM ET

5/5

San Francisco's new venture capital hotspot: The Presidio
© Reuters. Tourists look over downtown San Francisco including the Transamerica Pyramid building in California, U.S., July 7, 2023. REUTERS/Carlos Barria

2/5

By Krystal Hu

SAN FRANCISCO (Reuters) – Venture capital firm Headline used to be in one of San Francisco’s most eye-catching skyscrapers: the pyramidal Transamerica building that has defined the skyline for decades. Employees enjoyed the views from the 43rd floor and the convenience of being downtown.

Then came the pandemic.

As the tech industry shifted to work-from-home or downsized, a city center that was already struggling with drugs and homelessness slipped further into urban decay. Businesses closed and visitors were scared off, creating a vicious cycle that coincided with changes already happening in the city’s real estate market.

With Headline’s lease ending, the company decided to look elsewhere. The executives considered building an office on a boat or moving to a residential house. Eventually, they took their operation managing $4 billion to the bucolic – and secure – Presidio, a former military base-turned-national park next to the landmark Golden Gate Bridge.

And they are not alone. Venture capital firms are increasingly joining retailers and other businesses in finding homes outside downtown San Francisco. Westfield, for example, said last month it was giving up its downtown shopping mall after 20 years, as foot traffic fell by 43% from 2019.

Where venture capital firms end up could have implications for the broader tech industry, as such companies usually help form a gravity center for startup founders and communities.

“Presidio really represented what we thought the future of work should be,” said Mathias Schilling, Managing Partner at Headline, on a recent sunny afternoon. Nearby, a dozen employees were sitting at a long wooden communal table in the bright kitchen, eating lunch against a backdrop of lush greenery, palm trees and panoramic views of San Francisco Bay.

“It’s a very calm and quiet space, something that I think instills creativity and stimulates people,” said Schilling. “We take meetings outside and we walk around the big lawn here.”

Other venture capitalists – including Felicis Ventures, which backed Shopify (NYSE:) and Fitbit (NYSE:), as well as Forerunner Ventures and venture studio Atomic, have filled the directories in the Letterman Building, one of the biggest office complexes in the Presidio.

Converted from a former military base, the Presidio is located at the tip of San Francisco’s peninsula, several miles west of the financial district. As a national park, it is patrolled by federal police.

“It 100% feels safer than downtown. There’s no open drug use in the Presidio. There are no homeless encampments. There are very few homeless wandering around and that is because it’s the federal land and the federal police is a big part of it,” said Rex Salisbury, who runs VC firm Cambrian Venture and has been living and working from the Presidio since 2017.

SHIFTS IN TECH ECOSYSTEM

Venture capital firms play an integral part in the tech ecosystem in the San Francisco Bay Area, where startups captured about 35% of all U.S. venture capital funding in 2022.

Since the 1990s internet boom, the VCs have physically clustered in hotspots that are close to the startup founders – including Sand Hill Road in Silicon Valley and South Park in downtown San Francisco.

Now some firms say they feel less obligated to stay downtown because startup founders have become more scattered since the pandemic, while the Presidio is a convenient location for firm partners who live in the northern part of the city or Marin, the county across the Golden Gate Bridge from San Francisco.

“Presidio was too far, before COVID, for any founders to want to really come. Founders are not in downtown anymore, so we don’t have to be there anymore. We felt like it wasn’t going to be a burden for our founders to come here. They’re actually really excited,” said Eurie Kim, whose venture firm Forerunner left downtown for the Presidio in early 2022.

Although there are no statistics on the locations of VC firms by neighborhood, the Presidio vacancy rate is about 5%, compared to an overall commercial real estate vacancy rate in San Francisco of 35%, up from 4% pre-pandemic, according to real estate firm CBRE and the Presidio Trust, the federal agency that manages the area.

That is despite commercial real estate in the Presidio being on average 20% more expensive than downtown, according to CBRE data.

Lisa Petrie, a spokesperson at Presidio Trust, said there had been broad interest in moving from downtown since 2020. “They all cite the amenities and the beautiful surroundings of this urban national park as the number one reason for locating here,” she added.

The Presidio has long attracted non-profit organizations and entertainment firms. Lucasfilm has had its headquarters here since 2005, and the Walt Disney (NYSE:) Family Museum opened in the park in 2009.

Some VCs say they are still committed to downtown, however. When General Catalyst outgrew its office in South Park in San Francisco earlier this year, they moved to another downtown building a few blocks away.

“We found a convenient location that’s close to public transportation, downtown hotels, and restaurants,” said Jon Rehagen, chief technology officer at General Catalyst, adding that the firm was partnering with local restaurants and service providers. “Hopefully, that will help to revive the downtown tech corridor that is still recovering after the pandemic.”

Employees in Presidio also hoped for downtown’s recovery – but said for now they were happy they no longer needed to commute there.

“That part of town just hasn’t evolved in so long,” said Molly Martell, vice president of Brand at Headline. She said she hoped the attention being focused on its problems would be a catalyst for change. “It’s just tragic to see what’s happening,” she added.

A spokesperson for the office of San Francisco Mayor London Breed said the government wanted to support businesses of all types in all neighborhoods in the city.

“Mayor Breed continues to implement strategic initiatives to help stabilize existing businesses and recruit new ones as part of her Roadmap to Downtown San Francisco’s Future plan. We will continue to emphasize efforts to support the revitalization of Downtown, but we also welcome investments in all parts of our City,” the spokesperson said in an email.

Colin Yasukochi, executive director of CBRE’s Tech Insight, compared the Presidio to Sand Hill Road, the historic address for VCs in Silicon Valley.

“We do have this phenomenon that we call ‘flight to quality’ in real estate here,” he said. “The Presidio has evolved as the Sand Hill Road of San Francisco.”

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Investing.com – https://www.investing.com/news/economy/san-franciscos-new-venture-capital-hotspot-a-national-park-a-world-away-from-downtown-3121868

Tags: businessFrancisco'sventure
Previous Post

Yellen swaps stories of being ‘the only woman in the room’ with Chinese economists

Next Post

Mexican Pemex estimates platform fire shut in 700,000 barrels of oil

Transformative technology, support for food entrepreneurs spotlighted – University of Hawaii System

How Transformative Technology and Support Are Empowering Food Entrepreneurs

July 22, 2025
Saturday is for the buzz? Fox Sports inks TV deal with Barstool Sports, Dave Portnoy – The New York Times

Saturday is for the buzz? Fox Sports inks TV deal with Barstool Sports, Dave Portnoy – The New York Times

July 22, 2025
Zegna Plants Roots in Aspen with Ambition to Expand Conservation Initiatives Globally – The Impression

Zegna Plants Roots in Aspen with Ambition to Expand Conservation Initiatives Globally – The Impression

July 22, 2025
EPA targets science research office – The Hill

EPA targets science research office – The Hill

July 22, 2025
Column | Does red meat cause cancer? Here’s what the science says. – The Washington Post

Does Red Meat Cause Cancer? What the Science Really Reveals

July 22, 2025
People who let dirty dishes pile up rather than washing them immediately usually display these 9 behaviors – VegOut

9 Surprising Reasons People Let Dirty Dishes Pile Up Instead of Washing Them Immediately

July 22, 2025
Leon Marchand Drops 200 Breast & 200 Fly From 2025 World Championships Schedule – SwimSwam

Leon Marchand Pulls Out of 200 Breaststroke and 200 Fly at 2025 World Championships

July 22, 2025
Will Zohran Mamdani help or hurt New York’s economy? – Al Jazeera

Will Zohran Mamdani Shape or Shake New York’s Economic Future?

July 22, 2025
‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

July 22, 2025
Monday Mental Health Movement: Day Treatment Programs – WDTV 5

Monday Mental Health Movement: Exploring the Impact of Day Treatment Programs

July 22, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (733)
  • Economy (756)
  • Entertainment (21,640)
  • General (16,036)
  • Health (9,794)
  • Lifestyle (764)
  • News (22,149)
  • People (758)
  • Politics (765)
  • Science (15,973)
  • Sports (21,254)
  • Technology (15,739)
  • World (739)

Recent News

Transformative technology, support for food entrepreneurs spotlighted – University of Hawaii System

How Transformative Technology and Support Are Empowering Food Entrepreneurs

July 22, 2025
Saturday is for the buzz? Fox Sports inks TV deal with Barstool Sports, Dave Portnoy – The New York Times

Saturday is for the buzz? Fox Sports inks TV deal with Barstool Sports, Dave Portnoy – The New York Times

July 22, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version