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PitchBook Analyst Note: 2019 Venture Capital Outlook

4Q 2018

PitchBook Analyst Note: 2019 Venture Capital Outlook

December 17, 2018

PitchBook Analyst Note: 2019 Venture Capital Outlook
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Analysts Cameron Stanfill and Alex Frederick break down their prediction that 2019 will see record value in companies that IPO.


As 2018 winds down, it is now possible to look back on the most important trends that characterized the venture capital landscape this year. In the 2019 Private Venture Capital Outlook, our VC-focused analysts review the predictions they made nearly 12 months ago, comparing them against what actually transpired, and then lay out their forecast for the key forces that will drive the global VC market in the year to come.

2019 predictions:

  • IPOs as a proportion of total VC exit value will hit another decade high.
  • New participants in VC will continue to proliferate.
  • Median early-stage valuation step-ups will hit 2.0x in 2019.
  • Median angel & seed deal size will continue to climb.
  • Growth in median fund size will decelerate.
  • Banks will back more institutional blockchain solutions.