Valuations at virtually every stage of the venture cycle increased in the second quarter, according to PitchBook's 3Q U.S. Venture Industry Report. Median valuations at the seed, Series A, Series B and Series C stages all rose from 1Q levels, while Series D or later rounds inched down to a median $189.1 million. Higher valuations have led to a higher level of capital invested in the VC ecosystem, which topped $16 billion in 2Q, up substantially from the $12.5 billion invested in the prior quarter. While capital invested has increased noticeably the past two quarters, financing activity has leveled off somewhat since the end of 2013.
These are just a few of the data points and trends that PitchBook explores in its newly released 3Q 2014 U.S. Venture Industry Report. Powered by the PitchBook Platform, the report offers insight into the most recent trends in VC deal-making, valuations, exits and fundraising through data-driven analysis of venture capital activity in 2Q 2014, as well as over the last decade.
Inside this report: • VC deal flow by stage, sector, size and region • Median valuations • A Q&A interview with Wilson Sonsini • Exits and fundraising overviews • 2Q 2014 League Tables