Cbinsights-2021风投报告（英）-273页_7mb

报告摘要

State of Venture 2021 Summary

Core Content

The State of Venture 2021 report provides a comprehensive overview of global venture capital trends, including dealmaking, funding, and exits. It highlights the significant growth in the venture ecosystem across the world, with a particular focus on the United States, Asia, and other key regions.

Key Statistics

Total Unicorns: 959, up 69% YoY.
Global Venture Funding: $621B, a record high and more than double the 2020 total of $294B.
Mega-Rounds: 1,556 deals, with $100M+ rounds surpassing 1,000 for the first time.
US Funding: $311B, accounting for half of the global total.
Asia Deal Share: 36% of global deals, with 12,485 deals in 2021.
Global M&A Exits: 10,792, up 58% YoY.
SPAC Median Exit Valuation: $1.6B, more than double the median IPO valuation of $547M.
Fintech Funding: $132B, representing 21% of all venture funding.
Top Investor: Tiger Global Management, with 328 investments in 2021.
Silicon Valley Funding: $105B, doubling the 2020 total.

Main Points

Unicorn Growth

The global unicorn count reached 959 in 2021, an increase of 69% compared to 2020.
44 startups achieved decacorn status ($10B+ valuation).
The rise in unicorn numbers is driven by late-stage valuations and investment activity.

Funding Trends

Global Funding: Surpassed $621B, marking a record year with a 111% increase YoY.
US Funding: $311B, more than doubling from 2020 and accounting for half of global venture funding.
Asia Funding: $176B, representing an 89% YoY increase and the highest deal share at 36%.
Mega-Rounds: Accounted for 59% of total funding, with over $361B raised across more than 1,500 deals.
Late-Stage Deals: Showed the highest growth in median deal size, nearly doubling in 2021.

M&A Exits

Global M&A activity reached 10,792 deals, up 58% YoY.
The trend is attributed to the increasing demand for digital transformation across industries.
Q4 2021 saw a record high of 2,938 M&A deals, reflecting continued growth in the sector.

SPACs

The median SPAC exit valuation increased more than 2X to $1.6B.
SPACs became a popular alternative to traditional IPOs, with 247% growth in completed SPACs in 2021.
However, regulatory scrutiny may slow SPAC activity in 2022.

Fintech

Fintech raised $132B, which is 21% of all venture funding.
Fintech received 169% more funding compared to 2020.
1 in 4 unicorns belongs to the fintech sector, indicating its prominence in the market.

Top Investors

Tiger Global Management was the top investor, backing 328 companies in 2021.
SOSV and Sequoia Capital China followed with 314 and 276 investments respectively.
The report highlights the growing influence of both venture capital and corporate investors in the market.

Regional Highlights

Silicon Valley remained the top region for venture funding at $105B.
New York ranked second with $55B in funding, showing a threefold increase from 2020.
Boston and Toronto were also top contributors, with $32B and $205B in funding respectively.
Asia led in deal share, while Europe and LatAm saw significant growth in funding.

Key Insights

The venture market experienced a record year with significant growth in both funding and deal volume.
The US and Asia dominated the global venture scene, with the US accounting for half of all venture funding and Asia for 36% of all deals.
Fintech emerged as the most funded sector, with a substantial share of both deals and funding.
Mega-rounds are becoming more prevalent, representing a significant portion of venture funding despite making up only 5% of all deals.
SPACs are an increasingly popular exit strategy, though regulatory changes may affect their future trajectory.
Early-stage deals continue to play a vital role in the venture ecosystem, with a 62% share of all deals.
The report underscores the importance of data-driven decision-making in venture investing, supported by CB Insights' Technology Insights Platform.

Conclusion

The State of Venture 2021 report showcases a vibrant and rapidly evolving global venture market, marked by record funding levels, increased deal volume, and a shift in investment focus towards sectors like fintech and biotech. The report also highlights the growing influence of Asia and the continued dominance of Silicon Valley in the venture landscape. As the market continues to evolve, data and expert insights are becoming crucial for making informed investment decisions.

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