part of this is definition -- what is "venture funding" -- b/c if you simply count any type of private finance I think you'd find it is more of a continuous distribution (if still coastally-weighted). it's fair to say VC is mostly SV or NY, but I think that says more about how small the world of "venture capital" is compared to the larger world of private finance. this is not necessarily about where innovation happens, and certainly not about where economic output happens.