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Adley Bowden

VP, Analysis and Market Development

Adley is the VP of market analysis at PitchBook. He wears many hats around here, so on any given day, you may see him working on Product, developing strategic partnerships, working on brand messaging, editing our reports, analyzing our marketing metrics, talking with the media, or writing blog posts. His core responsibilities are centered on building and growing PitchBook through engaging content, compelling campaigns, and the support of internal and external clients. He first joined PitchBook back in 2008, fresh out of college, as a Research Associate. Since then, he has held a number of roles.

ARTICLES BY CURRENT AUTHOR

No advisory fee necessary: Private market podcasts you should tune into

We at PitchBook are big fans of podcasts, and in 2016, we compiled some of our top podcasts covering PE and M&A. Now, it’s time to update our list with our new favorites from around the private markets.

Private vs. public market investors: Who’s reaping the gains from the rise of unicorns?

A slow drama is playing out, as the number of publicly listed companies in the US is steadily shrinking. To better understand this change, we took a look at a key collision point: IPOs and unicorns.

Introducing PitchBook Benchmarks

We’re incredibly excited to announce the launch of PitchBook Benchmarks, our first standalone fund performance measurement tool built for the research and reporting needs of limited partners and general partners.
M&A

16 companies that have caught the M&A bug

Buy or build is the question at the heart of most business decisions—just not for these 16 companies, which have acquired 107 companies since the start of 2016.

Comparing fund models: VC vs. CVC

Using data from J. Thelander Consulting, we compare the typical venture capital fund model to a couple of the common CVC models seen today.

3 charts that show the effect of venture fundraising on founder ownership

Raising money will inevitably dilute the stakes of company investors, employees and founders, but the idea is that the growing total valuation results in a net positive, as it increases the value of everyone’s now smaller slice of the pie.

2016 executive salary increases: Tech, biotech & medical devices

As 2016 comes to a close and we head into the season of year-end performance reviews and merit compensation change conversations, it’s important to make sure you know what the data says.

Learning more about employee option pools

Option pool specifics are key areas for private companies to understand. Equity is important for private companies because it is the equivalent of a long-term incentive, with a typical vesting over four years, with a one-year cliff.

How big should an employee option pool be?

How big should an employee option pool be for a startup? How does this change over the course of a startup’s life? These are two very common and critical questions faced by founders, VCs and startup employees. And while there’s an abundance of opinions and anecdotal literature on the topic, very little is data driven. Until now.

If they want credibility, CVCs need to lead more

Corporate venture capital (CVC) groups have significantly ramped up their investing over the last five years, but many VCs and entrepreneurs still worry they are just tourists on an innovation-enlightenment-seeking trip.

Corporate venture capital compensation catching up to VCs

Corporate venture capital compensation is on the rise, with some CVC unit leaders catching up to their venture brethren on cash compensation.

A pile of dead unicorns is not around the corner

It has been predicted that the current downturn in venture is going to lead to a pile of unicorpses in 2016. We disagree.

The Venture Firms Sitting on the Biggest Paper Gains

Using the fund returns data in the PitchBook Platform, we take a quick look at the venture funds currently sitting on the largest paper gains.

#Disrupted – A look at HubSpot’s funding and financial history

A quick overview of HubSpot’s venture funding and financial history, along with a comparison to Marketo, one of its closest competitors. According to Disrupted’s book summary, HubSpot was “flush with $100 million in venture capital,” and VCs were basically shooting dollar bills out of a cannon at the startup. Here’s more of the full story.

VCs are safe from falling unicorn valuations

Several months ago, the headline and purpose of this story would have been to praise the most prolific unicorn investors. However, times and valuations have shifted and the venture market is wondering where the exposure is sitting, how this is going to hit venture returns and, finally, if this will chase the ‘tourists’ away.

The supply & demand economics behind the current VC boom and crunch

Overnight it seems the venture industry has ground to a standstill. The daily news is full of departing CEOs, layoffs, zombie unicorns and who’s next punditry. How did this all happen and with such speed? Well, it’s simple supply and demand economics.

Across the Pond: U.S.-to-Europe deal activity on the rise

Is the strengthening dollar and the increase in price of domestic equities causing U.S.-based investors to look abroad, where they can get more bang for their buck? The data says, yes.

A biotech executive makes how much?

Biotech companies have doing phenomenally well over the last couple of years. Here is a look at the current compensation levels for biotech executives.

Are IPO down rounds to blame for dearth of VC tech IPOs?

The number of technology companies going public has dwindled to a trickle.

The Series A, B & C valuation distribution for U.S. companies is moving

A look at the distribution of valuations for Series A and Series B rounds in 2010 vs 2014.

Addressing the Challenges of Private Market Research

Over the last eight years, we have built and constantly refined the PitchBook research process, and it might (finally) be time for it to step into the spotlight.

PitchBook Alpha List: ranking top VC investors

A first look at the new method PitchBook is building for evaluating venture investor performance.

3Q 2014 global venture investment, exit and fundraising data

The summer of 2014 was clearly not one of too much R&R for the global venture industry, with a total of 1,633 fundings totaling $21.3 billion of capital investment and 251 exits valued at a combined $17.2 billion, based on data collected by PitchBook. Here is a visual summary.

Has the canary sung or are the pros crying wolf over burn rates?

The idea of high burn rates rings alarm bells, as there are few things more dangerous to a startup than burning through cash too fast. But what does the data say about burn rates? Let’s take a look.

Our Additions to Tomasz Tunguz’s Seed Fundraising Post

Additional data on Seed venture fund fundraising. Covers capital raised, number of small venture funds and the number of VCs making seed investments.

The Geography of U.S. Venture Investments

We’ve produced an interactive map that illustrates the total dollar amount of venture investment by county since January 1, 2010. For anyone familiar with venture in the United States, this map is probably not a huge surprise in that the greater Bay Area is clearly the epicenter of venture investing.