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Posts Tagged ‘Fenwick & West’

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Fenwick & West Silicon Valley Venture Capital Flash Report – First Quarter 2020
By Cynthia Clarfield Hess, Mark A. Leahy, Barry J. Kramer and Khang Tran

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Background
This survey is a special interim report to highlight changes in the Silicon Valley venture capital environment in light of the COVID-19 pandemic. To facilitate analysis, we are providing information on a monthly basis, rather than the typical quarterly basis. We are also providing monthly data for the comparable period in 2019.

Key Findings

  • Q1 2020 saw a reduction in the number of financings, and a decline in financing price increases, as the quarter progressed.
  • In January 2020 there were 126 venture financings in Silicon Valley—the largest number of venture financings in a single month in at least five years—before declining to 60 in February 2020 and to 44 in March 2020. By comparison, there were 61 venture financings in March 2019.
  • The Fenwick & West Venture Capital Barometer showed that while the average price increase in January 2020 was 117%, it declined to 76% in February 2020 and declined further to 46% in March 2020. By comparison, the average price increase in March 2019 was 63%.
  • Q1 2020 did not show a significant change in non-price terms.
Full Report

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

View the full report.

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.

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
Full Report
Check out our new Startup Resource Center, featuring articles, videos, checklists, presentations and other tools to help entrepreneurs navigate every stage of company growth.

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

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Background
We analyzed the terms of 215 venture financings closed in the second quarter of 2019 by companies headquartered in Silicon Valley. The quarter showed the highest percentage of up rounds since 2004, when we first started publishing this report, and the strongest rise in median price increases since mid-2015.

Key Findings

  • Strong Valuation Results Improved Moderately
  • Series B and C Financings Valuations Were Stronger Compared to the Prior Quarter
  • Software Industry Showed Strongest Valuations
Full Report

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

View the full report.

Background
We analyzed the terms of 185 venture financings closed in the first quarter of 2019 by companies headquartered in Silicon Valley. We found that valuation results continued to be strong, with the average price increase in Q1 slightly lower than in the prior quarter, though still substantially higher than the historical average. The internet/digital media software industry recorded the strongest valuation results.

Key Findings

  • Valuation Results Remain Strong, but Declined from Three-Year Highs of Prior Quarter
  • Valuation Results Declined for Each Financing Series
  • Internet Industry Showed Strongest Valuations
Full Report

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

View the full report.

Background
We analyzed the terms of 185 venture financings closed in the first quarter of 2019 by companies headquartered in Silicon Valley. We found that valuation results continued to be strong, with the average price increase in Q1 slightly lower than in the prior quarter, though still substantially higher than the historical average. The internet/digital media software industry recorded the strongest valuation results.

Key Findings

  • Valuation Results Remain Strong, but Declined from Three-Year Highs of Prior Quarter
  • Valuation Results Declined for Each Financing Series
  • Internet Industry Showed Strongest Valuations
Full Report
Check out our new Startup Resource Center, featuring articles, videos, checklists, presentations and other tools to help entrepreneurs navigate every stage of company growth.

Read Full Post »

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