Venture Capital Investment Activity in U.S. Companies
Transcript of Venture Capital Investment Activity in U.S. Companies
Venture Capital Investment Activity in U.S. Companies
Venture Capital Deal Volumes by Sector - First Nine Months 2021
UNITED STATES VC INVESTMENT REACHES $196.5 BILLION
United States venture capital investments reached a record high of $196.5 billion from 5,198 deals in the first nine
months of 2021, an explosive rate of growth. For the third quarter in a row, this set an all-time high in terms of
disbursements in any quarter in United States history. Indeed, of the top eight quarters ever recorded in terms of
dollars invested, seven have occurred since Q1 2020, while of the top 25 states, 23 of them received more capital
invested in the first nine months of 2021 than in the same period last year. The average venture capital round size in
the first nine months also reached $40 million for the first time in history, having never exceeded $30 million in any full
year prior.
While the 1,765 venture capital deals recorded in the third quarter was not itself an all-time high, it did represent the
second most deals completed since any quarter in 2000, when 2,202 deals were completed in Q2 2000, and round
sizes were only $13.0 million on average.
ELEVEN VENTURE INVESTMENTS OVER $1 BILLION COMPLETED
While five venture-stage investments $1 billion or greater, totaling $15.6 billion, were completed in all of 2020, in the
first nine months of 2021 alone there were eleven such investments recorded totaling $20.4 billion. They included
Robinhood Markets, Rivian Automotive, Waymo, Cruise Automation, Databricks, Articulate Global, GoBrands, Chime
Financial, and Epic Games. Among top investors in United States companies in the first three quarters, those
completing more than 90 rounds apiece included Andreessen Horowitz, Tiger Global, Insight Venture Partners,
General Catalyst Partners, Sequoia Capital, and Y Combinator.
From January to September, information technology companies secured $133.2 billion, while life sciences companies
completed rounds totaling $34.0 billion, and other traditional sector companies accounted for the balance.
UNITED STATES VENTURE CAPITAL FUNDRAISING REACHES NEW HIGH
Venture capital fundraising in the United States in the first nine months also set new historical records, with $91.5
billion raised in 740 funds. Though Q3 saw only $25.2 billion in funds raised, and while this was only the fourth
strongest quarter on record, all four of those top four quarters occurred in the last twelve months. Before this year, the
last quarter in which more than 200 United States venture funds held a closing was in the fourth quarter of 2000.
UNITED STATES VENTURE CAPITAL-BACKED EXITS STAY STRONG
United States venture backed exits totaled $302 billion from January to September in 784 deals, while Q3 saw $173.8
billion in 305 deals, both all-time highs, with Q3 exit values growing 133% from the quarter prior, and 223% over Q1.
The first nine months saw three exits over $10 billion, including Ginkgo BioWorks, Atieva, and Aurora Operations as
reverse takeovers became a more prevalent exit technique.
United States Venture CapitalFirst Nine Months 2021 | United States Venture Capital Review
United States Venture Capital Deals Intelligence
0
1,000
2,000
3,000
4,000
5,000
6,000
$0
$50
$100
$150
$200
$250
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Q1 Q2 Q3 Q4 # of First 9 Months Deals
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2012 2013 2014 2015 2016 2017 2018 2019 2020 First 9Months
2021
Information Technology Life Sciences Non-High-Tech
An LSEG Company
$792 Netherlands
China
Brazil
$755
Germany
Antigua
China
Sector
India
Company Name
Nu Pagamentos SA
Flipkart Online Services Pvt Ltd
Revolut Ltd
Northvolt AB
2-Aug
United Kingdom
DSM Grup Danismanlik Iletisim ve Satis
Ticaret AS
Mollie BV
Germany$2,500
▼
$750
9-Jul
20-May
Data Mining
▲
▲
-9%
42%
55%
▲
30%
89%
77%
▲Delaware $587.9 43
$800
InvestmentsFirst Nine Months 2021 | United States Venture Capital Review
0%
▲▲
32%
-104%
▲
177%
▲
▲
125%
▼
▲ -2%
532% 67%
-22%
▲
29%
$156.7 29 ▲
86% ▲
33
▼-18%
▲
▲
48%
Tennessee ▲208%
275%
$620.6 34 $201.8 24
Missouri $610.8 30 $154.2 296%
Oregon $703.1 49 $377.4 37
Minnesota $643.6 39 $787.8 30
D. of Columbia $906.5 34 $326.7 22
$720.4 65
Connecticut $1,037.2 62
▲107%
$622.6 62 ▲105%
$509.2 62
Nevada $1,155.8 15 $183.0 9
Maryland $1,488.0
Virginia
51
$1,273.9 80
56
128%
-16%
$539.6 59
55
$1,578.9
$1,046.5
208%
$2,662.1
▲
29%
▲
▲
▲
17%
▲
54% ▲
-9% ▼
▲
23% 24%
▲ 40% ▲
33%
1369%
84%
▲ ▲
784 $16,845.6 509
177
▲ ▲
$9,897.7
$1,106.4
State
01/01/2021 - 9/30/2021 01/01/2020 - 09/30/2020
$1,532.6 102
54
Value ($mil) # of Deals
$1,636.4
$3,848.0
$1,444.8
143
$21,624.3
New Jersey ▲
$2,650
Value ($mil) # of Deals
Data Engineering
Deal Date
$3,400
23-Feb $850
30-Jul $1,000
$1,500
(US $mil)
$1,105
1-Jul
49
1-Feb
State
California
CaliforniaElectric Vehicles
Self-Driving Vehicles
Sector
Investment Software
Deal Value
California
Electric Vehicles California
Self-Driving Vehicles Michigan
GoBrands Inc
19-Jan $2,000
23-Jul
Delivery Service
Databricks Inc 15-Sep $1,600
$1,150
GoBrands Inc
New York
Pennsylvania
Chime Financial Inc 10-Sep
23-Mar
Articulate Global LLC
California
Educational Software
▲
$3,009.3
Waymo LLC
Video Games North Carolina
Delivery Service Pennsylvania
Epic Games Inc 13-Apr $1,000
170
California $96,758.8 2,111 $51,211.7 1,627
$2,548.8
Georgia $2,430.6 63 ▲
Robinhood Markets Inc
18-JanRivian Automotive LLC
16-Jun $2,500
Spacecraft
Cruise Automation Inc
Space Exploration
Technologies Corp
▲
▲
Illinois
354
114
31% ▲
$4,004.2
New York $29,836.3
17%
Rivian Automotive LLC
Banking Software
118%
Top Venture Capital Deals by U.S. Firms Investing in Non-U.S. Companies
Company Name
30%
Nation
Top Venture Capital Deals in U.S. Companies
Venture Capital Investments by State
83%
415
68 ▲
Michigan
Pennsylvania $3,896.4 116
12%
India
Sweden
Turkey
Massachusetts
▲
25
91%
23%
$800
▲
-15% ▼
161%
98Colorado $3,256.2 130
90
$2,843.7 35 $193.5
74 $1,064.2
North Carolina $2,236.9 69
54
51%
California
YoY %
Chg. ($)
YoY %
Chg. (#)
9-Mar
8-Jun
Bundl Technologies Pvt Ltd 5-Apr
California
Beijing Shihui Technology Co Ltd
▼ 23% ▲
▼$1,995.3
Ohio $1,663.7 50
$1,939.4 103
▲
Washington
Texas $4,676.1 222
252%
$3,133.0
Investment Software20-May
Investment Software5-Aug
Celonis SE
Trade Republic Bank GmbH
FTX Trading Ltd $891
Yisheng Biopharma Co Ltd 24-Feb
Deal Value
(US $mil)Deal Date
2-Jun
21-Jun
Florida
Utah
$3,600
$2,740
$1,500
$1,000
$904
$839
15-Jul
Deal Size Composition of Investments, First Nine Months 2021
Online Retail
Batteries
Online Retail
Biotherapeutics
Food Delivery
Payment Solutions
Payment Solutions
Online Retail
Payment Solutions
11%
6%
43%
36%
4%
9%
42%
39%
9%
≥ $1 bil
$500mil > $1 bil
$100 mil > $500 mil
$10 mil > $100 mil
Under $10 mil
Undisclosed Outer Ring: Deal Values (US$bil)
Outer Ring: # DealsInner Ring: $ Proceeds
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