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Venture Capital Valuations on the Rise

Overall VC activity stays relatively consistent in 3Q 2013

SEATTLE, Oct. 1, 2013 - According to the latest venture capital data from PitchBook Data, Inc., venture capital firms completed 854 deals totaling $7.3 billion in 3Q 2013. Coincidentally, 3Q 2012 also had $7.3 billion in VC investments, but the capital was spread across a greater amount of deals, 1016. Deal count was down for each core venture deal type, though early stage deals accounted for the largest decrease in deal flow with 374 financings in 3Q 2013 compared to 442 financings in 3Q 2012.
Download a Venture Capital Deals Snapshot here

PitchBook's Key Insight:

The median Series C pre-money in 3Q 2013 was the highest it's been since 2000. Median venture capital deal size also hit a two-year high at $3.14 million.

"The third quarter continued a trend of higher post round valuations that first emerged around the beginning of the year" according Adley Bowden, Director of Research at PitchBook. "The increase in post valuations at the Series A and B stages has been driven by higher check amounts, whereas at the later stage we are seeing both funding sizes and pre money valuations increase. The median Series C round valuation hit $79 million this quarter, the highest it's been since 2000."

Other Insights from PitchBook:

  • The median Series C pre-money valuation in 3Q 2013 was the highest it's been since 2000.
  • The median pre-money valuations for each series in Q3 were - Angel/Seed $5 million, Series A $8.8 million, Series B $24.8 million, Series C $78.8 million, and Series D+ $130.85 million.
  • Early-stage deals made up the largest share of venture capital financings (almost 45% and have increased every quarter thus far in 2013.
  • The median deal sizes for each stage in Q3 were - Angel/Seed $1 million, Early Stage $4.37 million, and Late Stage $10 million.
  • Google Ventures led 3Q 2013 VC investment activity, completing 23 deals.
  • 500 Startups is the most active accelerator for the year-to-date with 81 venture deals, while Andreessen Horowitz is the top venture firm, completing 63 deals.
For further venture capital deal insights from 3Q 2013, be sure to check out the infographic below.

About PitchBook Data

PitchBook Data, Inc. is a research firm providing superior data, news and analysis on the venture capital and private equity industries. PitchBook provides its clients with the highest quality information on the entire investment lifecycle through its award-winning online PitchBook Platform.
Better Data. Better Decisions.

Media Contacts
Tessa Griffin
PitchBook Data, Inc.
(206) 438-9273

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