2019Q2全球风险投资报告（英）-CBIInsight-2019.8-64页_1mb

MoneyTree™ Q2 2019 Report Summary

Core Content Overview

The Q2 2019 MoneyTree™ report highlights the performance of venture capital (VC) funding in the United States and globally, emphasizing the continued growth in funding despite some fluctuations in deal activity. It also provides insights into the top sectors and regions driving investment, as well as the most significant deals and unicorns.

Key Insights

US VC Funding Trends

• Total Funding: US VC funding reached $55B in Q2 2019, surpassing the Q2 2018 mid-point of $48B and on track to break records again for the year.
• Mega-Rounds: A record number of 64 $100M+ rounds were raised in Q2, accounting for nearly 50% of all funding.
• Unicorns: 19 new US unicorns emerged in Q2, close to the near-record 22 from Q4 2018.
• Juul: Juul Labs became the most highly valued VC-backed company in Q2 with a valuation of $50.0B, surpassing Uber which had previously held the top spot.
• Top Funded Companies: The top 5 funded companies in Q2 included Juul Labs ($13.6B), WeWork ($6.6B), Airbnb ($3.4B), SpaceX ($2.7B), and Magic Leap ($2.6B).

Deal Activity and Funding by Region

• North America, Asia, and Europe: Combined funding hit $53B, with a 2% annual decrease from Q1 2019 but a 2% increase in deal activity to 3,474 transactions.
• Asia: Deal activity dropped by 24% from Q3 2018.
• San Francisco Bay Area: Deal activity rebounded by 17%, while dollar funding stabilized at $13B.
• New York Metro: Deal activity declined by 8%, and dollar funding by 9%.
• San Diego Metro: Both deal activity and funding increased significantly.
• Seattle Metro: Deal activity slightly declined, but funding increased for the second consecutive quarter.

Sector Performance

• Internet and Software: Dominated deal activity and funding, with SaaS, e-commerce, and fintech leading the charge.
• Healthcare: Maintained strong performance, particularly in biotechnology and drug development.
• Automotive & Transportation: Sectors like autonomous vehicles (e.g., Cruise Automation) saw significant investment.
• FinTech and AI: Both sectors experienced a rise in deal activity and funding, with AI-related deals reaching a new high.

Top Verticals by Deal Activity and Funding

• Top 10 Verticals by Deal Activity:

  1. Healthcare > Biotechnology
  2. Internet > SaaS > Monitoring & Security
  3. Internet > SaaS > BI, Analytics & Performance Mgmt
  4. Internet > eCommerce > Marketplace
  5. Internet > SaaS > Advertising, Sales & Marketing
  6. Internet > SaaS > Customer Relationship
  7. Internet > SaaS > HR & Workforce Management
  8. Internet > SaaS > Accounting & Finance
  9. Internet > SaaS > Healthcare
  10. Healthcare > Drug Development

• Top 10 Verticals by Investments:

  1. Healthcare > Biotechnology
  2. On Premise Software > Scientific, Engineering Software
  3. Automotive & Transportation > Automobile Parts
  4. Internet > SaaS > Monitoring & Security
  5. Internet > SaaS > Accounting & Finance
  6. Internet > eCommerce > Marketplace
  7. Healthcare > Drug Development
  8. Internet > eCommerce > Food & Grocery
  9. Internet > SaaS > BI, Analytics & Performance Mgmt
  10. Industrial > Aerospace & Defense

Top VCs in Q2 2019

• Top VCs by Amount Raised (2015–Q2’19):

  1. Sequoia Capital: $17.5B
  2. Insight Partners: $12.5B
  3. Andreessen Horowitz: $9.7B
  4. Summit Partners: $9.1B
  5. New Enterprise Associates: $6.5B

• Most Active VCs in Q2 2019:

  1. New Enterprise Associates: 28 deals
  2. Plug and Play Ventures: 24 deals
  3. Lightspeed Venture Partners: 19 deals
  4. Google Ventures: 19 deals
  5. Kleiner Perkins: 17 deals

Key Deals and Exits

Top 5 M&A Exits of Q2 2019

• Looker ($2.6B)
• Peloton Therapeutics ($2.2B)
• Harry’s Razor Company ($1.4B)
• Kyriba ($1.2B)
• Paragon Bioservices ($1.2B)

Top 5 IPOs of Q2 2019

• Uber ($75.5B)
• Slack Technologies ($15.7B)
• Pinterest ($12.7B)
• Zoom Video Communications ($9.2B)
• Adaptive Biotechnologies ($2.4B)

Top 5 Deals by City

• San Francisco Bay Area:

  1. Cruise Automation ($1.2B)
  2. DoorDash ($600M)
  3. SoFi ($500M)
  4. Uber ($500M)
  5. PAX ($420M)

• Los Angeles Metro:

  1. SpaceX ($536M)
  2. Virgin Hyperloop One ($172M)
  3. Restaurant365 ($88M)
  4. VideoAmp ($70M)
  5. Criteria Corp ($56M)

• New York Metro:

  1. UiPath ($568M)
  2. Gypass ($300M)
  3. Lemonade ($300M)
  4. Foursquare ($150M)
  5. SpringWorks Therapeutics ($125M)

• San Diego Metro:

  1. Poseida Therapeutics ($142M)
  2. TuSimple ($105M)
  3. Acutus Medical ($100M)
  4. Vividion Therapeutics ($82M)
  5. Locana ($55M)

• Seattle Metro:

  1. Outreach ($114M)
  2. Auth0 ($103M)
  3. Highspot ($60M)
  4. Zenoti ($50M)
  5. Flexe ($43M)

Global Trends

• North America vs. Asia: North America pulled ahead in deal activity and dollar funding, with Asia trailing behind.
• SoftBank Group: Led the world's largest deals, with investments in companies like Cruise Automation and UiPath.

Summary

The Q2 2019 report underscores the resilience of US VC funding, which continued to grow despite some regional and sectoral fluctuations. Mega-rounds, particularly in the $100M+ range, played a significant role in driving overall funding levels. The San Francisco Bay Area and New York Metro remained strong, with notable activity in SaaS, fintech, and healthcare. Meanwhile, the rise of unicorns and the dominance of specific verticals like biotechnology and AI indicate a shift in investment focus. The global perspective highlights North America's leadership in both deal activity and funding, with SoftBank Group leading in large-scale investments.