风投脉搏, 2017年第四季度.pdf

1#Q4VC© 2018 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated.Venture PulseQ4 2017Global analysis ofventure funding16 January 20182#Q4VC© 2018 KPMG International Cooperative (“KPMG International”). KPMG International provides no clientservices and is a Swiss entity with which the independent member firms of the KPMG network are affiliated.Welcome messageWelcome to the Q4’17 edition of KPMG Enterprise’s Venture Pulse Report — a quarterly report highlighting the key issues, trends, and opportunities facing the VC market globally and in key jurisdictions around the world.A robust Q4’17 propelled total annual global VC funding to $155 billion, the highest tally of the decade. A number of billion-dollar mega-deals over the course of the year, including six $1 billion+ rounds in Q4, drove the significant funding upswing. VC funding was up year-over-year across all regions, including Asia, the Americas and Europe. Meanwhile, the number of deals continued to decline globally during Q4’17, reflecting a shifting investor focus on quality over quantity. Rather than invest in a myriad of different companies, investors at all deal levels have leaned toward placing bigger bets on a smaller group of companies they feel have the strongest path to profitability/potential.While the software sector continued to attract the bulk of VC funding, the biotech and healthech sectors experienced strong growth this year, with pharma & biotech companies alone raising a record high of over $16 billion in VC funding globally.Heading into 2018, the VC market is expected to remain robust, particularly in areas such as AI, biotech, agtech and autotech. With many companies choosing to stay private longer, 2018 is also expected to bring an increase in secondary market activity in order to provide some liquidity to early-stage investors. There is also likely to be a modest increase in IPO activity, particularly in biotech.In this quarter’s edition of the Venture Pulse Report, we examine both annual and Q4’17 VC market trends, including:— The increase in deal size across all deal stages— The rapid upswing in healthtech and biotech— The growing focus on cross industry innovation and applicability— The rapid evolution of France as an innovation center.We hope you find this edition of the Venture Pulse Report insightful. If you would like to discuss any of the results in more detail, please contact a KPMG Enterprise adviser in your area.© 2018 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated.You know KPMG, you might not know KPMG Enterprise. KPMG Enterprise advisers in member firms around the world are dedicated to working with businesses like yours. Whether you’re an entrepreneur looking to get started, an innovative, fast growing company, or an established company looking to an exit, KPMG Enterprise advisers understand what is important to you and can help you navigate your challenges — no matter the size or stage of your business. You gain access to KPMG’s global resources through a single point of contact — a trusted adviser to your company. It’s a local touch with a global reach. Jonathan LavenderGlobal Chairman, KPMG Enterprise, KPMG InternationalBrian HughesCo-Leader,KPMG Enterprise Innovative Startups Network, KPMG International, and Partner, KPMG in the USArik SpeierCo-Leader,KPMG Enterprise Innovative Startups Network, KPMG International, and Partner,KPMG in IsraelContents© 2018 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated.Global ― Overall VC investment closes on a high, deal volume continues to fall― Year-over-year median deal size rises across all stages― Global median pre-money valuation for series D+ peaks at $275 million for 2017― Corporate VC participation reaches 18.7%― Global volume for first-time venture financings plummets in 20176Americas ― Overall VC investment hits record high in Q4 ― Deal volume drops for the second consecutive quarter― 2017 Series D+ median valuations spike to $250 million ― Canadian venture deal volume plummets — deal values remain strong― Venture financing in Brazil strengthens, powered in part by fintech 25US― Strong Q4 propels annual investment to new high― 2017 deal volume more resilient than Asia or Europe― Median pre-money valuations notch a new high for the decade― Corporate VC involved in $10+ billion for second consecutive quarter― Fundraising cycle signals it’s ready for a slowdown38Europe― Venture investment reaches new highs with massive Q4― Angel/seed investment continues to plummet― Corporate VC participates in 21% of all deals — a new high― UK l...