2021年Q4全球风险投资报告（英）-94页_2mb

Venture Pulse 04 2021 Summary

Core Content

The Q4 2021 edition of Venture Pulse by KPMG Private Enterprise highlights the continued strength and growth of the global venture capital (VC) market. Despite the challenges posed by the Omicron variant of COVID-19, the VC market remained robust, with record-breaking investment levels, exits, and fundraising across the year.

Key Trends and Highlights

Global VC Market

• Total VC investment in Q4 2021 reached $171.4 billion, marking another near-record quarter and concluding a record-breaking year.
• 2021 saw a total of $671 billion invested globally, surpassing the annual highs seen at the start of the decade.
• Corporate VC investment increased from $49.9 billion to $81 billion year-over-year, indicating stronger participation from corporate investors.
• Venture-backed exits totaled over $300 billion in Q4 2021, with the total exit value almost three times the previous high.
• Global fundraising reached $200 billion in 2021, a near-record level.

Major Deals

• Nine companies raised $1 billion+ rounds in Q4 2021, including:
  • J&T Express (Indonesia) – $2.5 billion (Late-stage VC)
  • Commonwealth Fusion Systems (US) – $1.8 billion (Series B)
  • Gopuff (US) – $1.5 billion (Late-stage VC)
  • Sierra Space (US) – $1.4 billion (Series A)
  • Regor Therapeutics (China) – $1.5 billion (Early-stage VC)
  • Lacework (US) – $1.3 billion (Series D)
  • GTA Semiconductor (China) – $1.25 billion (Early-stage VC)
  • Nanjing LingHang Technology (China) – $1.2 billion (Series A)
  • Thrasio (US) – $1 billion (Series D)
  • Pupumall (China) – $950 million (Late-stage VC)

Sectors and Industries

• Fintech, healthtech, B2B services, cybersecurity, and cleantech remained key sectors attracting significant VC attention.
• Delivery and logistics saw robust investment, with companies like Nuro, Uber Freight, and Jokr raising large amounts.
• Unicorn companies dominated investment, with 126 unicorns globally in Q4 2021. The US had 76 unicorns in Q4 2021 alone.
• ESG (Environmental, Social, and Governance) continued to rise in prominence, driven by the COP26 conference and increasing investor focus on sustainability.

Regional Insights

• Americas: VC investment hit a new record of $95.2 billion across 3,946 deals. The US saw $88.2 billion in investment across 3,536 deals.
• Europe: Investment totaled over $28 billion across 2,041 deals. N26 raised $900 million, the largest European deal of the quarter.
• Asia: Investment reached $46.2 billion across 2,440 deals. China was the most active region, accounting for 7 of the top 10 deals.

Main Points and Key Information

VC Investment Trends

• Record investment levels in Q4 2021 and throughout the year, with the US and Europe leading the charge.
• Megadeals continued to be a major driver, with several companies raising over $1 billion.
• Late-stage VC deals saw significant growth, with the global median pre-money valuation more than doubling year-over-year.
• Series A and Series D rounds also saw record investment, indicating a more mature and diversified investment landscape.

Exit Activity

• Venture-backed exits in the US reached a record high, with total exit value nearly three times the previous peak.
• Public listings saw a surge, with the total value exceeding $1 trillion for the year, as companies opted for traditional IPOs over SPACs.

Fundraising

• Global fundraising reached $200 billion in 2021, with the US alone raising over $128 billion.
• Specialized funds emerged as a trend, with examples like the $2.2 billion crypto fund raised by Andreessen Horowitz.
• First-time financings increased significantly, indicating a growing number of startups entering the market.

2022 Outlook

• VC investment is expected to remain strong globally, especially in less developed markets like Africa and South America.
• IPO activity may slow slightly in 2022 as companies focus more on quality and readiness rather than speed.
• M&A activity is anticipated to remain robust, particularly in fintech and food delivery, where consolidation is expected.
• Hybrid work models and HR-focused technologies will continue to be a priority for VC investors due to the shift in workforce dynamics.

Conclusion

The global VC market in 2021 was marked by record-breaking investment, a surge in unicorns, and a growing focus on ESG and digital transformation. As the market enters 2022, it is expected to maintain its momentum, with a greater emphasis on quality over speed and continued interest in high-growth sectors like fintech, healthtech, and cleantech.