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Posts Tagged ‘Cynthai Clarfield Hess’

IMG
Silicon Valley Venture Capital Survey – Fourth Quarter 2019
First Look
By Cynthia Clarfield Hess, Mark A. Leahy and Khang Tran

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Background
We analyzed the terms of 188 venture financings closed in the fourth quarter of 2019 by companies headquartered in Silicon Valley. Valuation results spiked in Q4 2019, with the highest average and median price increases recorded in the 16-year history of our survey.

Key Findings

  • Up rounds exceeded down rounds 84% to 5%, with 11% flat in Q4 2019—an increase from Q3 2019
  • The average price increase of financings rose sharply from 88% in Q3 2019 to 142% in Q4
  • The median price increase of financings increased from 54% in Q3 2019 to 76% in Q4
  • Series D financing rounds recorded considerably stronger valuation results compared to Q3 2019
  • The internet/digital media and software industries recorded the strongest valuation results in Q4
  • The percentage of financings in Q4 2019 providing for redemption rights increased to 11%—the highest percentage since Q3 2015
  • The percentage of financings with cumulative dividends in the quarter was the lowest since Q4 2017
First Look

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IMG
Silicon Valley Venture Capital Survey – Third Quarter 2019
Full Analysis
By Cynthia Clarfield Hess, Mark A. Leahy and Khang Tran

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Background
We analyzed the terms of 189 venture financings closed in the third quarter of 2019 by companies headquartered in Silicon Valley. The quarter recorded the highest average price increase since mid-2015. The software and internet/digital media industries were again the industries with the two strongest valuation results in the quarter. The United States venture environment has been robust through the first three quarters of 2019, but has retreated from the peak levels recorded in 2018.

Key Findings

  • Valuation Results Have Plateaued in 2019
  • Series B and C Financings Valuations Were Stronger Compared to the Prior Quarter
  • Software and Internet/Digital Media Industries Showed Strongest Valuations
  • The pace of investments and the amount of capital invested in Q3 U.S.-wide were both down appreciably compared to the prior quarter and the year ago period.
Full Report

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Silicon Valley Venture Capital Survey – Fourth Quarter 2018
First Look
By Cynthia Clarfield Hess, Mark A. Leahy and Khang Tran

View the full report.

Background
We analyzed the terms of 234 venture financings closed in the fourth quarter of 2018 by companies headquartered in Silicon Valley. We found that valuation results are at multiple-year highs. Our data also show a steep decline in the use of multiple liquidation preferences.

Key Findings
Valuation Results Hit Multiple-Year Highs
Valuation results in the fourth quarter of 2018 improved upon the already strong levels recorded in the prior quarters of the year and are at three-year highs.

All Financing Series on the Rise
Stronger valuation results compared to the prior quarter were recorded across each series of financing.

Software Industry Scores Strongest Valuations
The software industry recorded the strongest valuation results in Q4 2018, with an average price increase of 118% and a median price increase of 58%, both significantly higher compared to the prior quarter.

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IMG
Silicon Valley Venture Capital Survey – Third Quarter 2018
Full Analysis
By Cynthia Clarfield Hess, Mark A. Leahy and Khang Tran

View the full report.

Background
We analyzed the terms of 215 venture financings closed in the third quarter of 2018 by companies headquartered in Silicon Valley.

Key Findings
Up Rounds Continue to Dominate, Valuation Metrics Plateau
Valuation results were generally flat in Q3 2018 compared to the prior quarter. Overall, valuation metrics remain strong and are above historical averages, but have plateaued since Q3 2017.

Series B Financings Continue to Show Strongest Valuations
Series B financings recorded the strongest valuation results in Q3 2018, although the average price increase declined from 117% in Q2 to 92% in Q3, while the median price increase was up moderately from 66% in Q2 to 68% in Q3.

Life Sciences Industry Scores Strongest Valuations
The life sciences industry recorded the strongest valuation results in Q3 2018 and the greatest gain from the prior quarter, with an average price increase of 110%, up from 63% in Q2, and a median price increase of 44%, up from 19% in Q2.

Full Report

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IMG
Silicon Valley Venture Capital Survey – Fourth Quarter 2017
Full Analysis
By Cynthia Clarfield Hess, Mark A. Leahy and Khang Tran

View the full report.

Background
This report analyzes the terms of 190 venture financings closed in the fourth quarter of 2017 by companies headquartered in Silicon Valley.

Overview of Results
Valuation Results Remain Strong
Valuation results continued to be strong in Q4 2017, but the percentage price increases declined moderately compared to the prior quarter, following three consecutive quarters of increases.

Internet/Digital Media Scores Highest Valuation Results
The internet/digital media industry recorded the strongest valuation results in Q4 2017 compared to the other industries, with an average price increase of 179% and a median price increase of 51%, both up from the prior quarter.

Valuation Results Down for Series D Financings
Series D financings recorded the weakest valuation results in Q4 2017 compared to the other financing rounds, with the highest percentage of down rounds and the lowest average and median price increases of all the financing rounds.

Full Report
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