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PitchBook Analyst Note: 2020 Venture Capital Outlook

4Q 2019

PitchBook Analyst Note: 2020 Venture Capital Outlook

December 16, 2019

PitchBook Analyst Note: 2020 Venture Capital Outlook
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Our Venture Capital Outlook forecasts trends that will shape the VC industry in 2020 and reviews our analysts' predictions from 2019.

2020 predictions:

  • The median pre-money valuation for seed-stage companies will eclipse $8.5 million.
  • 2020 will mark a new annual record for US mega-deals.
  • CVC activity will reach a new record in 2020.
  • The median US VC fund size will top $110 million, reaching an all-time high.
  • SoftBank’s second Vision Fund will not close at its target of $108.0 billion.
  • At least three direct listings of VC-backed companies valued over $1 billion will close in 2020.