In This Issue:

- Activity Level of 2013 New England Transactions - All Rounds

- Activity Level of New England Seed Transactions

- Activity Level of New England Series A Transactions

- Activity Level of New England Series B/Later Round Transactions

- Size of New England Q4 2013 Seed Transactions by Industry

- Size of New England Q4 2013 Series A Transactions by Industry

- Size of New England Q4 2013 Series B/Later Round Transactions by Industry

- The Numbers

- The National Activity Level Summary

..National Seed Transactions by Industry

..National Series A Transactions by Industry

..National Series B/Later Round Transactions by Industry

- Implied Q4 2013 Median Pre-Money Valuations, Industry by Round

- Terms of Selected New England Series A Rounds 2012-2013

- Terms of Selected New England Series B/Later Rounds 2012-2013

- Excerpt from The Numbers:

Set forth below are analysis and commentary regarding the information reported in the various tables throughout his issue of Venture Perspectives.

Activity Levels -

Q4 2013 -

During Q4 2013, the total number of New England Seed transactions increased 11% from Q3 2013 and 25% from Q4 2012. The technology sector represented 70% of the total Q4 2013 transactions, the life sciences and cleantech sectors accounted for 10% and 20%, respectively. There were no transactions in the “other” sector.