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PitchBook-NVCA Venture Monitor

4Q 2017

PitchBook-NVCA Venture Monitor

January 15, 2018

The 4Q 2017 PitchBook-NVCA Venture Monitor reviews a historic year for venture capital investment, tracing key drivers and themes that shaped US VC. Created in partnership with Silicon Valley Bank, Perkins Coie and Solium, this edition takes an unprecedented look inside the US venture industry. Included are sections on deals, exits, fundraising, venture credit, startup financials and more. 

Key Highlights:

  • With more than $84 billion invested throughout the year, 2017 reached the highest total of VC capital invested since the dot-com era—even despite a roughly deal count declining for the third consecutive year. More than $19 billion was invested in rounds with a valuation of at least $1 billion.
  • Liquidity cycles continued to stretch as companies raised further private funding rather than exit. The average time for companies to reach an exit of all types surpassed 6.4 years, though 2017 did see a record number of unicorns complete successful exits.
  • Fundraising slowed year over year, but 2017 did become the fourth consecutive year to reach over $30 billion raised for US-based VC funds. As the dry powder stays at elevated levels, deal sizes will also likely continue to stay high, and exit timelines could push out further.