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. While the first half of 2015 was a rip-roaring start for the venture capital industry, by the second half of the year, VCs adopted a more measured approach to their investments, and excitement tempered. In many ways, 2016 played out the same way that 2015 ended, and ultimately, the venture capital industry remained at its “new normal.” Though 2016’s decline in valuations, dearth of public exits, and macroeconomic uncertainty prompted VC managers to move cautiously, the IPO market has been off to a strong start, beginning with Snap’s $3.4 billion debut on NYSE in March of 2017. And plenty of capital remains for startups and entrepreneurs to tap into nascent but promising technologies, including those related to robotics, drones, autonomous vehicles, augmented reality, virtual reality, machine learning, and artificial intelligence.
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It’s worth remembering that some of today’s most successful startups all started during or after the 2008 financial crisis. We’re excited to see the next cohort of companies to emerge from this similarly uncertain, but compelling, time for VC.