PitchBook August 04, 2015
July saw 634 VC deals completed globally, worth a combined $13.2 billion—the highest capital invested total in any month this year. Five different companies raised rounds at $10 billion+ post-money valuations, including Uber ($52B), Palantir Technologies ($20.5B) and WeWork ($10.2B). A number of other companies landed massive deals during the month: fantasy sports rivals FanDuel and DraftKings raised $275 million and $300 million, respectively, and India-based internet retail giant Flipkart took in a $700 million investment. The global IT sector accounted for 46% of deal flow in the month.
About 670 different VC investors participated in at least one financing during the month of July, with 19 completing at least five deals. The most active investors were Sequoia Capital (13 investments), Tiger Global (11) and Accel Partners (nine). The top non-U.S. investor was Switzerland-based Index Ventures, which closed six deals.
China-focused VC firm Shunwei Capital Partners raised the largest venture fund during July, closing its third USD-denominated vehicle on $1 billion. Other notable VC funds to close during the month include Deerfield Healthcare Innovations Fund ($550M), Foresite Capital Fund III ($450M) and Foundry Venture Capital 2016 ($225M). In total, 20 VC funds closed last month with a total of nearly $3.5 billion in capital commitments.
127 VC-backed companies completed an exit in July via IPO, acquisition or PE buyout. IT accounted for the largest portion of exits (43%), with B2C (20%), healthcare (17%) and B2B (15%) following. While 80% of the exits were acquisition deals, there were several notable healthcare IPOs, including ProNAi Therapeutics ($138M), Neos Therapeutics ($72M) and ConforMIS ($135M).