October 4, 2013 - The 10 year time horizon of the US Venture Capital Index ® by Cambridge Associates LLC continued its improvement in Q1 2013 to 7.8%. However, due to a resurgence in the public markets, average venture capital performance fell slightly below the public indices in the sub 10 year time horizons. The Late Stage US Venture Capital Index still outperformed the public indices in the five year time horizon, while the Early Stage Index continued to outperform dramatically over the 15 and 20 year periods.
October 1, 2013 - In Q3 2013, there were 107 venture backed M&A transactions with $4.9B in disclosed deal value. While up quarter on quarter, number of transactions remains down 4% on a rolling four quarter basis and disclosed value is down 22% over the same time period. However, disclosed deal value is highly dependent on the mix of M&A deals disclosed and the number of deals disclosed is also down 6% on a rolling four quarter basis.
June 30, 2013 - In Q2 2013, there were 84 venture backed M&A transactions with $3.0B in disclosed deal value. Number of transactions continued to decline by 8% on a rolling four quarter basis, while disclosed value also fell by 17%. The fall in disclosed value may partly be due to a decline in the percentage of deals with disclosed value from 24% to 22% over the same time period.
June 30, 2013 - There were 913 venture capital deals in the US in Q2 2013 totaling $6.7B. This represents an increase over Q1 2013, but continues a slight decline of 3% in dollars raised on a rolling four quarter basis. 302 of the deals in Q2 2013 were first time financings, which totaled $1.1B. First time financings as a percentage of all venture deals increased slightly from Q1 2013 to represent 33% of deals and 17% of dollars raised.
June 30, 2013 - In Q2 2013, 44 US venture capital funds raised $2.9B, which was a 4% decrease in number of funds and an 18% fall in capital raised on a rolling four quarter basis. Consequently, average fund size also fell 15% to just $82MM.
March 31, 2013 - There were 77 venture backed M&A transactions in Q1 2013 with $984MM in disclosed deal value. The number of transactions fell 4% on a rolling four quarter basis, while disclosed value fell 12%. However, the value of only 13% of transactions was disclosed in Q1 2013, while in 2012 the deal value was disclosed for an average of 26% of transactions. Consequently, the decrease in disclosed value is not necessarily representative of the health of the M&A market.