Yeah, I think seed (and &quot;pre-seed&quot;, sigh, that is now a thing too) and Series A are the most geographically specific.  IPOs happen anywhere (or rather, happen nowhere).  B through Pre-IPO happen basically anywhere for the strongest companies, but for a marginal company and earlier, there might be some geographic focus.<p>OTOH, VX flies SFO-AUS nonstop.