【Cbinsights】2024年二季度风险投资状况报告_244页_7mb

State of Venture Summary - Q2 2024

Core Content

The State of Venture report for Q2 2024 provides an in-depth analysis of global venture capital trends, including funding, deal volume, and exit activities. It highlights the performance of various sectors and geographic regions, as well as the role of different investor groups in shaping the venture landscape.

Main Points

Global Funding Trends

• Total Global Venture Funding: Reached $65.7B in Q2 2024, marking an 8% increase from the previous quarter.
• Deal Volume: Declined for the ninth consecutive quarter to 6,230 deals, with global deal volume now less than half of its peak in Q1 2022.
• Average Deal Size: Increased to $14.4M in 2024, a 17% rise compared to the 2023 average.
• AI Funding: AI startups captured 28% of all VC funding in Q2 2024, the highest share on record, with $18.3B raised, driven by large deals like xAI's $6.0B Series B and Scale's $1.0B Series F.

Exit Trends

• Global Exits: The US accounted for 39% of global exits (including M&A and IPOs) in Q2 2024, matching Europe's share.
• Top Exits: Notable exits included IPOs from Tempus and Rubrik, both valued at over $5B, and Hyundai's acquisition of Motional for $4.1B.

Regional Funding Breakdown

• Asia: Quarterly funding dropped to $9.7B, the first time below $10B in a decade. The decline was significant in China, where funding fell by more than 50% QoQ.
• India, Singapore, and Japan: Showed increases in funding.
• Other Regions: Oceania, Africa, and Canada had smaller shares, with Oceania and Africa at 1%, and Canada at 2%.
• LatAm: The region saw a modest increase in funding, though not as significant as other areas.

Investor Groups

• VC Funding: VC firms dominated the funding landscape, accounting for the majority of deals.
• Private Equity: Also played a significant role, especially in larger deals.
• CVCs and Angel Investors: Smaller shares of the market, but notable in early-stage and seed funding.

Key Information

Top Deals in Q2 2024

• $6.0B: xAI (Series B)
• $502M: Mistral AI (Series B)
• $308M: EnerVenue (Series B)
• $300M: DeepL (Series B)
• $227M: Augment (Series B)
• $225M: AltruBio (Series B)
• $200M: Wayve (Series C), Zenas BioPharma (Series C), and others.

Top Series D Deals

• $450M: Cohere
• $277M: TERMINUS Technology
• $200M: Foodsmart, Sigma Computing, and others.

Top Series E+ Deals

• $1.0B: Scale (Series F), Wiz (Series E), Stripe (Series I), Zepto (Series F), and others.

Top Unicorns in Q2 2024

• $24.0B: xAI
• $3.0B: Monad
• $2.1B: Xaira Therapeutics
• $2.0B: Cognition AI
• $1.6B: Weka and Huntress
• $1.5B: Sigma Computing
• $1.4B: Cyera
• $1.2B: Creatio

Top Unicorns by Valuation

• $225.0B: ByteDance (China)
• $150.0B: SpaceX (United States)
• $80.0B: OpenAI (United States)
• $66.0B: SHEIN (Singapore)
• $65.0B: Stripe (United States)
• $43.0B: Databricks (United States)
• $33.0B: Revolut (United Kingdom)
• $31.0B: Fanatics (United States)
• $25.0B: Canva (Australia), Chime (United States)

Summary

The Q2 2024 State of Venture report highlights a continued rise in global venture funding, with a notable 8% increase to $65.7B. However, deal volume has been declining for nine quarters, reaching 6,230 deals. AI startups dominated the funding landscape, capturing 28% of all VC dollars. The US led in global exits with a 39% share, while Asia saw a significant drop in funding, falling below $10B for the first time in a decade. The report also emphasizes the increasing size of deals, especially in the later stages, and the emergence of new unicorns, with xAI and Monad leading the pack in valuation.