TrueBridge Market Analysis: State of the Venture Capital Industry
As part of our annual analysis of key venture capital industry trends, this report examines fundraising, investments, valuations, exits, and net returns to limited partners. Prudence and caution characterized the 2016 venture market, but quickly became passé as the industry forged ahead and set numerous new records in 2017. These milestones included the highest number of seed and early stage funds ever raised, as well as the most capital invested globally. Massive financings drove this dynamic, as deals funded actually decreased year-over-year. According to Pitchbook, unicorns accounted for less than 1% of transactions in 2017, but such financings represented more than 22% of the industry’s deal value.