venture capital insights - building a better working world ...€¦ · page 2 venture capital...

Venture Capital Insights® — 2Q14

Global VC investment landscape

July 2014

Venture Capital Insights — 2Q14

Global VC investment landscape Summary

Global VC investment activity

• Globally, 2Q14 recorded the highest quarterly VC investments (US$21.1b since 1Q01). VC investments for the first half of 2014 reached $37.8b.

• Recovery in global VC investment activity gathered pace with significant growth in the amounts invested across all markets. Compared to the previous quarter, the amount invested in 2Q14 was up by 26% and an increase of 3% in number of rounds.

• While Europe saw the largest increase of 42% in VC dollars invested during 2Q14, versus the previous quarter, the US and China saw an increase of 21% and 19%, respectively, over the same time period.

• Of the top 15 hotbeds, the Bay Area continued to account for close to half of the amount invested-49% in 1Q14 and 47% in 2Q14. The top two deals of the quarter were San Francisco-based companies, one of which was a US$1.2b investment in Uber Technologies Inc., bringing it to a post-valuation of US$18.2b.

• Consumer services, and business and financial services were the two most attractive sectors during 2Q14 in terms of value and volume.

• Companies operating at the revenue generation stage continue to attract large investments primarily through later round classes.

• In 1H14, median deal values at later round class were at their all-time high for most VC markets, except for China.

• By stage of development, 1H14 saw significant increase in median values across stages, particularly for the US, Europe and China.

• Median pre-money valuations reached an all time high for 2Q14, due to the large number of mega deal investments, almost double the pre-money valuation values for 1Q14.


Global VC investment landscape Analysis by geographies, hotbed, sectors, stages of development and round classes


• Globally, 2Q14 raised the highest quarterly VC investments since 1Q01 levels. Subsequently, VC investments for the first half of 2014 reached $37.8b.

• Recovery in global VC investment activity gathered pace with significant growth recorded in amount invested across all markets. Compared to 2Q13 last year, the dollar amount invested in 2Q14 was up by 57% despite a slight decline of 2% in number of rounds.

• The outlook for VC investments remains strong with 2Q14 continuing the momentum from 1Q14. The total amount invested of US$21.1b , for 2Q14, as well as average round size US$13.7m were the highest in the last six years. The first half of 2014 has already seen 73% of the total VC investments recorded for the year 2013.

Global VC activity — by amount invested and number of rounds

Global VC investment After a record first quarter in the last six years, VC investors kept up the positive momentum in 2Q14 with a further 26% increase in VC dollars, compared to 1Q14

13.7

6.8 9.9

12.8 11.0 10.8

16.7 16.7

13.6

8.5

12.1

14.2 13.4

13.4 21.1

21.1

13.7

8.7

9.7

15.3

11.1 13.3

10.0

11.4

14.8

12.8

13.1

14.4

5,467

4,777

5,402

5,954

5,958 6,345

3,038

1,425

1,148 1,451

1,589 1,577 1,575

1,542

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

0

10

20

30

40

50

60

2008 2009 2010 2011 2012 2013 1H 2014 Q1 Q2

Nu

mb

er o

f rou

nd

s A

mo

un

t in

ve

ste

d (

US

$b

)

Amount invested during Q1 (US$b) Amount invested during Q2 (US$b)

Amount invested during Q3 (US$b) Amount invested during Q4 (US$b)

Number of rounds during the year/qtr Number of rounds during Q2

Note: Global total includes the US, Europe, Canada, China, Israel (all site) and India only.

51.0 35.4 46.4 55.0 48.6 51.9 37.8 16.7 21.1

1496 1542


US

Europe

• In the US, VC investments continue to grow in 2014 with a 21% increase seen in VC dollars during 2Q14, versus 1Q14. Compared to 2Q13, the dollar amount invested went up by almost 60%, due to a large number of mega deals in consumer services industry.

• Among the three major markets, Europe saw the sharpest increase of 42% in VC dollars raised for 2Q14, versus the previous quarter. The US and China saw an increase of 21% and 19%, respectively, over the same period.

• China, however continues to lead in terms of average round size across all markets. At US$23m, it was also the highest average amount seen across markets since 1Q10 levels.

China

VC investment by geography 2Q14 recorded the highest quarterly VC amount across the US, Europe and China, since 1Q08

9.1 4.6 5.4

8.1 7.6 7.6 11.4

11.4 13.8

8.4

6.2 8.0

9.2 9.3

8.6

13.8 9.1

6.0

6.3

10.8 7.8 9.4

6.8

7.6

9.6

8.1

9.0 9.3

3,092

2,788

3,192

3,651 3,734 3,747

1,802

825

692 856

937 1,011 938

917

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

0

5

10

15

20

25

30

35

40

2008 2009 2010 2011 2012 2013 1H14 Q1 Q2

Nu

mb

er o

f rou

nd

s

Am

ou

nt

inve

ste

d (

US

$b

)

6.3 5.0 4.2 4.8 4.0 4.0 5.0

Median amount invested (US$m)

4.4 6.3

885 917

2.2 1.1 1.4

1.9 1.4 1.6 2.0 2.0

1.8

1.1 1.6 1.8

1.9 1.9 2.9

2.9

2.1

1.3

1.5

1.8 1.4

1.7

1.9

2.2

2.6

2.0

1.6 2.3

1,491

1,304

1,422 1,369 1,387

1,601

723

348

295 382 394 363 406

365

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

0

1

2

3

4

5

6

7

8

9

2008 2009 2010 2011 2012 2013 1H14 Q1 Q2

Nu

mb

er o

f rou

nd

s

Am

ou

nt

inve

ste

d (

US

$b

)

1.2 0.5

2.4 1.7 1.1 0.7

2.4 2.4

1.7

0.6

1.1 1.9

1.4 1.4

2.8

2.8

1.4

0.8

1.0 1.6

0.9 1.0

0.7

0.9

1.7

1.6

1.4 1.6

367

319

391

430

289

379

228

119

76

100 122

78 88

121

0

50

100

150

200

250

300

350

400

450

500

0

1

2

3

4

5

6

7

8

2008 2009 2010 2011 2012 2013 1H14 Q1 Q2

Nu

mb

er o

f rou

nd

s

Am

ou

nt

inve

ste

d (

US

$b

)

Median amount invested (US$m) Median amount invested (US$m)

2.7 2.0 2.4 2.1 1.9 1.7 2.7 2.4 3.0 6.9 5.4 7.4 10.0 7.5 5.0 10.0 8.6 16.0

358 365 107 121

Amount invested during Q1 (US$b) Amount invested during Q2 (US$b) Amount invested during Q3 (US$b)

Amount invested during Q4 (US$b) Number of rounds during the year/qtr Number of rounds during Q2


• Canada saw growth of 134% in the amount of VC investment, compared to 1Q14, followed by India with an increase of 92%.

• Israel was the only market which saw a decline in VC investments, compared to 2Q13, both in terms of deals and dollars. However, compared to 1Q14, the amount invested in healthcare and information technology (IT) sector rose by 6%.

• The outlook for VC investments in Canada and India continues to remain positive, with 1H14 investments significantly exceeding 1H13 levels. However, Israel has yet to cross 2013-halfway mark.

Canada

VC investment by geography Continued recovery in amount invested by VCs was evident across all markets, although number of deals declined in Israel and Canada, versus 1Q14

0.8

0.2 0.3 0.3 0.3 0.3 0.3 0.3

0.6

0.2

0.9

0.6

0.2

0.6 0.4

0.4

0.5

0.3

0.2 0.4

0.3

0.4

0.3

0.2

0.5 0.6

0.4

0.4

289

178

163 180 163

196

96

75

41

54 54

33 52

42

0

50

100

150

200

250

300

350

0

1

2

3

2008 2009 2010 2011 2012 2013 1H 2014 Q1 Q2

Nu

mb

er o

f rou

nd

s

Am

ou

nt

inve

ste

d (

US

$b

)

0.2 0.1 0.2 0.4

0.2 0.2 0.2 0.2

0.1 0.1

0.2

0.4

0.2 0.2 0.4

0.4

0.3

0.1

0.4

0.3

0.3 0.3

0.2

0.2

0.2

0.1

0.3 0.4

110

92 114

143 151

182

80

27 26 25

37 40 40 38

0

20

40

60

80

100

120

140

160

180

200

0

1

2

2008 2009 2010 2011 2012 2013 1H 2014 Q1 Q2

Nu

mb

er o

f rou

nd

s

Am

ou

nt

inve

ste

d (

US

$b

)

5.0 4.6 4.0 5.0 2.7 2.1 2.3

0.2 0.2 0.2

0.3 0.4 0.4 0.4 0.4

0.9

0.1 0.2

0.4 0.3

0.6

0.8

0.8

0.4

0.1 0.2

0.4 0.4

0.5

0.2

0.3

0.3

0.4 0.4

0.4

118 96

120

181

234 240

109

31 18 34

45 52 51 59

0

50

100

150

200

250

300

0

1

2

2008 2009 2010 2011 2012 2013 1H 2014 Q1 Q2

Nu

mb

er o

f rou

nd

s

Am

ou

nt

inve

ste

d (

US

$b

)

Median amount invested (US$m) Median amount invested (US$m)

Median amount invested (US$m)

1.5 5.9

42 38

5.0 4.0 5.0 7.0 4.0 4.8 4.8 4.0 5.4 7.0 4.2 6.4 5.0 3.7 3.9 4.1 3.0 5.0

54 42 50 59

Israel (all site) India

Amount invested during Q1 (US$b) Amount invested during Q2 (US$b) Amount invested during Q3 (US$b)

Amount invested during Q4 (US$b) Number of rounds during the year/qtr Number of rounds during Q2


• The Bay Area continues to account for close to half of the dollar amount invested in the top 15 major VC hotbeds 49% in 1Q14 and 47% in 2Q14, compared to 2008–2013 period when it accounted for less than 38% of the total amount. The top two deals of the quarter San Francisco-based companies, one of which was a US$1.2b investment in Uber Technologies Inc., bringing it to a post-valuation of US$18.2b.

• VC investments increased in India which saw Bengaluru move up three ranks from the bottom, for the first time since 2009. Beijing, the most attractive VC hotbed in the Asia Pacific region , is the top ranked non-US hotbed and continues to be among the top five.

VC investment by hotbed Beijing was the only non-US destination among the top five VC hotbeds during 2Q14; the Bay Area continued its dominance attracting top two deals of the quarter

6

23

33

13

42

38

46

22

74

97

71

66

102

122

323

Number of rounds

108

139

178

278

364

376

439

473

541

821

856

1,114

1,190

1,575

7,400

Switzerland

Illinois

Potomac

Bengaluru

Israel (all…

Canada

Germany

Shanghai

France

UK

S. Calif

Beijing

New England

NY Metro

Bay Area

Amount invested (US$m)

Top five hotbeds1

US$12.1b (77% of the total2)

Top five hotbeds1

684 (63% of the total2)

113

385

394

421

572

634

881

901

954

981

1,509

1,820

2,306

3,234

8,786

Bengaluru

Switzerland

Shanghai

Illinois

Canada

Potomac

Israel (all site)

Beijing

France

Germany

UK

NY Metro

S. Calif

New England

Bay Area


Top five hotbeds1 US$17.7b (74% of the total2)

2009 2Q14

316

384

730

832

1,084

1,214

1,282

1,655

1,951

1,996

2,759

3,344

3,835

3,933

14,075

Bengaluru

Switzerland

Illinois

Germany

Shanghai

Canada

France

Potomac

Israel (all site)

UK

Beijing

NY Metro

New England

S. Calif

Bay Area


Top five hotbeds1


2011

412

564

570

730

1,092

1,105

1,242

1,521

1,707

2,106

2,305

3,264

3,491

3,891

13,488

Switzerland

Illinois

Bengaluru

Shanghai

France

Canada

Potomac

Germany

Israel (all site)

Beijing

UK

S. Calif

NY Metro

New England

Bay Area


Top five hotbeds1


2013

83

134

139

161

193

251

340

342

517

669

704

775

1,056

1,263

6,278

Bengaluru

Switzerland

Illinois

Canada

Potomac

France

Germany

Israel (all site)

UK

S. Calif

Shanghai

Beijing

NY Metro

New England

Bay Area


Top five hotbeds1


1Q14

*Data on Israel is based on Israel (all site). 1 Top five hotbeds by amount invested. 2 Total of 15 major VC hotbeds listed above.


VC investment by industry Consumer services, and business and financial services were the two most attractive sectors during 2Q14 in terms of value and volume, respectively

By number of rounds:

• The business and financial services sector globally continues to be ranked first. Notably, in the US, IT sector was displaced from the top ranking for 2Q14, for the first time since 1Q08, although many of these companies are significantly IT enabled.

• Compared to 2Q13, the increase in deal count was the highest in business and financial services with an increase of 18% followed by consumer services with 6%, while the IT sector saw a decline of 17%.

By amount invested:

• Amount invested in both the business and financial services, and consumer services sectors more than doubled compared to 2Q13.

• Amid an increased focus by VC investors on mobile technology and internet types of companies, the consumer services sector saw the top three deals for the quarter with a total investment of US$19.5b.

1,693

240

1,165

240

1,304

186

1,115

Information Technology

Industrial Goods and Materials

Healthcare

Energy and Utilities

Consumer Services

Consumer Goods

Business and Financial Services

2011

1,779

206

1,074

176

1,424

183

1,092

Number of rounds

Amount invested (US$b)

726

74

514

52

746

112

803

Note: There are also some deals for which sector has not been assigned.

2012 2013 1H14 1Q14 2Q14

366

31

242

23

366

63

398

360

43

272

29

380

49

405

11.5 1.9

12.3 4.7

13.1

2.1

9.5

Information Technology

Industrial Goods and Materials

Healthcare

Energy and Utilities

Consumer Services

Consumer Goods

Business and Financial Services

2011

12.7

1.5

10.6

2.4

11.1

1.4

8.6

8.4

0.5

6.6

0.7

11.8

0.7

9.0

2012 2013 1H14 1Q14 2Q14

4.4

0.2

2.9

0.4

4.4

0.3

4.3

4.0

0.4

3.7

0.3

7.5

0.4

4.8

12.4

1.4

11.8

1.7

12.0

1.8

10.8

1,719

207

1,113

160

1,474

208

1,451


VC investment by country / region 2Q14 was the strongest quarter in terms of VC amount invested for the US, Europe and China

By number of rounds:

• In 2Q14, the number of rounds in the US and Europe grew marginally, compared to the previous quarter. However, for India and China ‒ the volume increased by 18% and 13%, respectively, due to strong activity in the consumer services sector.

• The number of rounds invested in Canada and Israel declined by 10% and 22%, respectively for 2Q14 versus 1Q14. However in Israel, low investment activity in the consumer services sector, particularly consumer information services subsector led the decline. In Canada, the information technology sector saw 13 deals compared to 18 deals in the last quarter.

By amount invested:

• VC activity picked up across markets in 2Q14, with the US, Europe and China seeing record growth of 21%, 45% and 22%, respectively. Even the smaller markets grew impressively with Canada and India recording 100% increases each over the last quarter, Israel grew by 33%.

• Subsequently, the average deal size also grew across markets during the 2Q14 compared to 1Q14. For the largest VC market, the US, average deal size increased by 17%, while for Europe, it grew by 42%. India, Israel and Canada also recorded big gains in their average deal sizes with 69%, 71% and 121%.

181

180

143

430

1,369

3,651

India

Israel

Canada

China

Europe

US

2011

234

163

151

289

1,387

3,734

Number of rounds


2012 2013 1H14 1Q14 2Q14

240

196

182

379

1,601

3,747

109

96

80

228

723

1,802

50

54

42

107

358

885

59

42

38

121

365

917

1.5

2.0

1.2

6.7

7.5

36.2

India

Israel

Canada

China

Europe

US

2011

1.6

1.2

0.9

4.8

6.4

33.7

2012 2013 1H14 1Q14 2Q14

1.9

1.7

1.1

4.7

7.5

34.9

1.3

0.7

0.5

5.1

4.9

25.2

0.4

0.3

0.2

2.3

2.0

11.4

0.8

0.4

0.4

2.8

2.9

13.8


VC investment by round class and stage of development Companies operating at revenue generation stage continued to attract large investments primarily through later round classes

1,622

1,067

2,279

626

Later stage

Second round

First round

Seed round

2011

1,537

995

2,355

733

Number of rounds


2012 2013 1H14 1Q14 2Q14

1,532

1,225

2,591

697

866

638

1,196

207

392

283

612

138

474

355

584

69

27.7

10.8

12.0

0.6

Later stage

Second round

First round

Seed round

2011

25.5

8.2

10.5

0.5

2012 2013 1H14 1Q14 2Q14

26.8

10.3

10.9

0.5

21.2

6.8

5.7

0.2

8.3

2.9

2.6

0.1

12.9

4.0

3.1

0.1

297

3,664

1,427

559

Profitable

Generating revenue

Product development

Startup

2011

231

3,858

1,293

571

Number of rounds


2012 2013 1H14 1Q14 2Q14

270

4,344

1,242

486

144

2,262

515

115

71

1,095

255

74

5.6

36.1

12.2

1.1

Profitable

Generating revenue

Product development

Startup

2011

3.4

35.8

8.6

0.7

2012 2013 1H14 1Q14 2Q14

4.7

37.8

8.7

0.6

4.2

28.9

4.5

0.2

2.2

12.3

2.1

0.1

2.0

16.6

2.4

0.1

By stage of development

By round class

73

1,167

260

41


Median round size by round class In 1H14, median deal values at later round class were at their all-time high for all VC markets, except for China; China still recorded the highest median value at this stage, across markets

10

.0

8.0

7.7

10

.0

10

.0

10

.0

11

.3

5.9

4.4

5.3

5.5

7.4

6.2

10

.0

9.2

7.3

10

.0

20

.0

18

.0

19

.9

20

.0

9.5

5.7

8.9

7.3

8.8

3.8

14

.7

9.0

6.1

9.9

11

.0

10

.0

7.6

15

.5

11

.6

11

.5

10

.8

10

.0

9.0

10

.4

15

.0

0

5

10

15

20

25

2008 2009 2010 2011 2012 2013 1H14

8.0

5.0

5.5

6.0

5.3

5.8

6.5

3.8

2.6

3.0

2.9

3.3

3.3

4.0

10

.0

8.2

10

.0 1

5.0

15

.4

12

.5

20

.0

5.1

5.6

5.0

6.9

6.0

6.0

4.4

6.0

5.0

6.0

8.0

5.5

9.0

8.5

10

.6

7.6

9.0

6.9

6.1

6.0

8.0

0

5

10

15

20

25

2008 2009 2010 2011 2012 2013 1H14

4.1

3.5

3.0

3.0

2.7

2.5

3.0

2.1

1.6

1.8

1.6

1.5

1.3

1.7

5.0

4.0

5.0

7.7

3.7

3.3

3.0

4.2

2.8

3.0

3.3

2.0

1.6

1.3

4.0

2.5

2.0

3.5

2.6

3.0

3.3

5.5

4.0

3.7

4.0

3.1

1.6

2.0

0

2

4

6

8

10

2008 2009 2010 2011 2012 2013 1H14

0.8

0.6

0.7

0.8

0.7

0.5

0.6

0.8

0.6

0.5

0.5

0.3

0.2

1.0

0.7

NS

NS

1.0

0.2

0.3

1.0

0.6

NS

0.9

0.9

0.5

0.1

0.2

0.6

0.6

0.6

0.7

0.5

0.7

0.6

NS

NS

NS

0.3

0.4

0.2

NS

0.0

0.5

1.0

1.5

2008 2009 2010 2011 2012 2013 1H14

Seed round (median round size in US$m)

During 1H14, the median deal size across all markets remained at similar levels to 2013, except for Europe and China which saw their median deal size increase to US$1.0m each from US$0.2m and US$0.3m, in 2013. However, in India, the stage continued to remained insignificant.

First round (median round size in US$m)

Median deal sizes increased in almost all markets in 1H14 compared to 2013, showing that VC investors, when investing in the first round are continuing to make larger investments. China and Canada were the only two markets that reported a decline in median values, for the first round for the same period.

Second round (median round size in US$m)

Across all markets, China maintained its lead in 1H14, with a 60% increase in median deal value compared to 2013. During the same period, while the median values increased in the US (12%), Europe (24%) and India (33%), the value declined by 27% and 6% in Canada and Israel.

Later stage (median round size in US$m)

All markets saw a significant growth in median deal sizes in 1H14 compared to 2013, except for China. The growth was the highest in Canada where the median value increased four times, followed by Israel where the median value doubled to US$15.5m in 1H14 from US$7.6m in 201). With no change in median values, China continued to see the highest value globally, for the same period.

Note: Chart scales vary for the purpose of clarity.

0.3 0.2 0.3 0.6 0.5 0.5 0.2

339 303 385 626 733 697 207

11.3 7.6 8.4 10.8 8.2 10.3 6.8

1,077 1,021 1,050 1,067 995 1,225 638

Amount invested globally (US$b)

No. of global deals


No. of global deals

13.6 7.9 9.8 12.0 10.5 10.9 5.7

2,192 1,667 1,955 2,279 2,355 2,591 1,196

22.3 17.4 24.7 27.7 25.5 26.8 21.2

1,470 1,457 1,655 1,622 1,537 1,532 866

US Europe China Canada Israel (all site) India


Median round size by stage of development Significant increases in many median values across stages, particularly for the US, Europe and China

7.0

5.0

5.0

5.2

5.0

5.0

5.8

3.0

2.1

2.4

2.2

2.4

1.9

2.5

7.3

7.3

8.8

10

.0

8.0

6.5

10

.0

6.0

4.0

5.0

5.0

3.3

2.5

2.6

6.0

4.6

6.0

9.1

5.0

6.0

6.5

8.0

4.6

6.8

5.5

4.0

4.0

4.1

0

2

4

6

8

10

12

2008 2009 2010 2011 2012 2013 1H14

8.0

5.0

6.1

9.1

6.3

5.3

10

.0

3.9

2.9

5.6

4.0

4.1

3.3

10

.0

7.2

5.7

6.7

20

.0

18

.5

11

.2

15

.5

NS

7.9

14

.6

NS

NS

7.5

NS

9.0

NS

8.5

9.8

7.0

12

.0

NS

7.2

5.1

5.0

8.0

9.2

45

.8

4.4

0

5

10

15

20

25

30

35

40

45

50

2008 2009 2010 2011 2012 2013 1H14

7.0

5.1

4.1

5.0

3.7

3.3

4.5

2.5

2.1

2.6

1.9

1.3

1.7

2.8

2.7

3.9

5.0

3.1

3.6

1.5

3.0

3.3

4.2

3.0

6.0

2.0

1.5

1.0

4.5

3.8

4.0

4.4

2.8

4.3

2.5

6.3

1.8

8.7

0.4

3.3

2.2

NS

0

2

4

6

8

10

2008 2009 2010 2011 2012 2013 1H14

1.2

1.0

1.0

1.0

1.0

0.7

0.7

0.9

0.8

0.6

0.7

0.4

0.2

0.8

NS

1.9

2.0

2.1

0.5

0.3

NS

NS

1.5

1.4

0.9

NS

NS

NS

2.5

1.5

0.9

1.8

0.6

0.9

1.1

NS

NS

6.7

3.0

0.5

0.2

NS

0

1

2

3

4

5

6

7

8

2008 2009 2010 2011 2012 2013 1H14

Startup (median round size in US$m)

In 1H14, activity at the startup stage continued to remained low across most markets except for the US, Europe and Israel. While the median deal size for the first half of 2014 remained the same in the US, versus 2013, it grew by 300% in Europe and by 24% in Israel, over the same time frame.

Product development (median round size in US$m)

The three key VC markets ‒ the US, Europe and China ‒ saw a significant growth in median deal sizes in 1H14 compared to last year, indicating investors remained confident in these markets. China saw the largest increase in median value for this period from US$1.5m to US$3.0m, followed by Europe (68% and the US 38%.

Generating revenue (median round size in US$m)

In 1H14, median deal sizes at the generating revenue stage increased in all markets compared to 2013. China saw the largest growth at 53% and continued to record the highest median value across all markets for the first half of 2014, indicating VC Investors are remaining positive about investing in China and are continuing to make larger investments there.

Profitable (median round size in US$m) While the median values increased to US$10.0m in both the US and Europe in 1H14, from US$5.3m and US$3.3.m, in 2013, China recorded close to a 40% increase for the same period. India, on the other hand, saw a decline from its all-time high median value of US$45.8m in 2013 to US$4.4m in 1H14 ‒ the value, however was more inline with the levels that have been seen in previous years.

Note: Chart scales vary for the purpose of clarity.

1.0 0.8 0.9 1.1 0.7 0.6 0.2

366 375 354 559 571 486 115

17.5 11.3 13.0 12.2 8.6 8.7 4.5

1,665 1,421 1,568 1,427 1,293 1,242 515


No. of global deals

27.0 19.6 27.4 36.1 35.8 37.8 28.9

3,012 2,672 3,141 3,664 3,858 4,344 2,262


No. of global deals

5.4 3.6 5.1 5.6 3.4 4.7 4.2

413 299 337 297 231 270 144

US Europe China Canada Israel (all site) India


Appendix: sector classification

Sector Sub-sector

Business and financial services Business support services

Construction and civil engineering

Financial institutions and services

Wholesale trade and shipping

Consumer goods Food and beverage

Household and office goods

Personal goods

Vehicles and parts

Consumer services Consumer information services

Media and content

Retailers

Travel and leisure

Energy and utilities Non-renewable energy

Renewable energy

Utilities

Healthcare Biopharmaceuticals

Healthcare services

Medical devices and equipment

Medical software and information services

Industrial goods and materials Aerospace and defense

Agriculture and forestry

Machinery and industrial goods

Materials and chemicals

Information technology Communications and networking

Electronics and computer hardware

Semiconductors

Software


EY’s Global Venture Capital Advisory Group leadership network

Americas Markets and Operations Sandra Feldner Vandergriff +1 213 977 3253 [email protected]

EMEIA Andrea Vogel +31 8 8407 4070 [email protected]

Asia-Pacific Ringo Choi +86 755 2502 8298 [email protected]

Greater China Lawrence Lau +862 1222 82816 [email protected]

France and Luxembourg Franck Sebag +33 1 46 93 73 76 [email protected]

Global Leader Bryan Pearce +1 617 585 0499 [email protected]

Global SGM Leader Maria Pinelli +44 20 7980 0960 [email protected]

India Mayank Rastogi +91 22 6192 0850 [email protected]

Israel Oren Bar-On +97 2 3568 7102 [email protected]

US Leader Jeff Grabow +1 408 947 5607 [email protected]

EY | Assurance | Tax | Transactions | Advisory

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. About EY’s Strategic Growth Markets Network EY’s worldwide Strategic Growth Markets Network is dedicated to serving the changing needs of high-growth companies. For more than 30 years, we’ve helped many of the world’s most dynamic and ambitious companies grow into market leaders. Whether working with international mid-cap companies or early-stage venture backed businesses, our professionals draw upon their extensive experience, insight and global resources to help your business succeed. www.ey.com/sgm © 2014 EYGM Limited. All Rights Reserved. 1405-1254009 W ED: None This material has been prepared for general information purposes only an dis not intended to be relied upon as accounting, tax or other professional advice. Please refer to your advisors for specific advice. www.ey.com

venture capital insights - building a better working world ...€¦ · page 2 venture capital...

Documents