The document summarizes recent trends in the venture capital industry:
1) Later stage valuations drove large amounts of capital into the industry in 2015 despite fewer deals. Median late stage valuations more than doubled from 2010 levels.
2) Financing rounds of $100 million or more ("unicorn" rounds) skyrocketed, with $43.3 billion invested across 131 companies since 2006.
3) Non-traditional VC investors like hedge funds, mutual funds, and corporations accounted for an increasing share of capital as "tourists" filled gaps from VC funds.
4) A large number of heavily funded companies will be seeking public market exits in the coming years.
The document summarizes recent trends in the venture capital industry:
1) Later stage valuations drove large amounts of capital into the industry in 2015 despite fewer deals. Median late stage valuations more than doubled from 2010 levels.
2) Financing rounds of $100 million or more ("unicorn" rounds) skyrocketed, with $43.3 billion invested across 131 companies since 2006.
3) Non-traditional VC investors like hedge funds, mutual funds, and corporations accounted for an increasing share of capital as "tourists" filled gaps from VC funds.
4) A large number of heavily funded companies will be seeking public market exits in the coming years.
The document summarizes recent trends in the venture capital industry:
1) Later stage valuations drove large amounts of capital into the industry in 2015 despite fewer deals. Median late stage valuations more than doubled from 2010 levels.
2) Financing rounds of $100 million or more ("unicorn" rounds) skyrocketed, with $43.3 billion invested across 131 companies since 2006.
3) Non-traditional VC investors like hedge funds, mutual funds, and corporations accounted for an increasing share of capital as "tourists" filled gaps from VC funds.
4) A large number of heavily funded companies will be seeking public market exits in the coming years.
The document summarizes recent trends in the venture capital industry:
1) Later stage valuations drove large amounts of capital into the industry in 2015 despite fewer deals. Median late stage valuations more than doubled from 2010 levels.
2) Financing rounds of $100 million or more ("unicorn" rounds) skyrocketed, with $43.3 billion invested across 131 companies since 2006.
3) Non-traditional VC investors like hedge funds, mutual funds, and corporations accounted for an increasing share of capital as "tourists" filled gaps from VC funds.
4) A large number of heavily funded companies will be seeking public market exits in the coming years.
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21,860 94,438 150,137 33,460 514,170
LPs Commitments GPs/Investors Funds Performance Data Lines
696,194 491,333 124,748 25,463 1,097,011
Portfolio Transactions Valuations Advisory Firms People Companies National VC Trends Stages of funding over view
Accelerators/incubators Later stage valuations drive piles of capital despite fewer deals U.S. VC deal flow $90 12,000 60% of $ in LVC $80 10,199 $78B 54% of $ in LVC Deals 10,000 $70 Deals $68B $60 9,177 8,000
Series C Series D+ *Through 12/31/2015 Tourists filling VC funding gap U.S. VC fund contributions vs. U.S. VC capital invested $90 Non-traditional VC $78.2B investors account $80 for an increasing $68.0B $70 share of VC $ spend. $60 $44.0B $50
Total VC Fund LP Contributions ($B) Total Capital Invested ($B)
*Through 12/31/2015 A glut of heavily funded companies will be seeking public market exits % of VC Ba cke d Cos to I P O by VC Ca p ita l R a is e d (2 0 0 6 -2 01 5) 60%
49.7% 50%
40% 35.1% Over 500 30% companies 21.7% having raised 20% $100M+ yet to be exited. 7.8% 10%
1.5% 2.0% 3.2%
0% Under $5M $5M - $10M $10M - $20M $20M - $50M $50M - $75M $75M - $100M $100M+ Total VC Capital Raised
*Through 12/31/2015 Seed round valuations reach levels previously seen at series A Median pre-money valuation ($M) by series $45 $42 $40 $34 $35
*Through 12/31/2015 Washington VC Trends WA accounts for nearly 70% of capital invested in the PNW since 2013 PNW VC capital invested ($M) by state $2,500
*Through 12/31/2015 More WA-based companies are raising capital WA V C d e a l f l o w $2.5 350 319 303 272 300 $2.0 $2.0B $1.8B 250 $1.6B $1.5 200 157 150 $1.2B 150 $1.0
*Through 12/31/2015 1.8x more unique investors involved in WA deals than in 2010 A c t i ve i nve s to rs i n WA V C d e a l s b y y e a r 400 369 350 333 303 300 259 267 250 234 240 201 200 188 183
*Through 12/31/2015 CA investors continue to be the most active investors in WA companies A c t i ve i nve s to rs i n WA V C d e a l s b y y e a r 160
