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The U.S. metro area with the biggest VC returns isn't Silicon Valley

A view of Chicago's skyline at sunset from the 94th floor of the John Hancock Observatory. Photo: Getty

While startups around Silicon Valley get the most venture capital funding, the biggest returns for investors come from companies in the Chicago metropolitan area — with an 8.5x return during 2010-2017, per Pitchbook. The Bay Area netted returns between 4.2x and 4.6x during that same period.

Why it matters: This is a win for proponents of spreading venture investing outside of Silicon Valley.