Silicon Valley Venture Capital Flash Report - August 2020

Fenwick & West LLP

This survey is a special interim report to highlight changes in the Silicon Valley venture capital environment through August 2020 in light of the COVID-19 pandemic.

Please note that when providing data on a monthly basis, and especially when analyzing trends among industries or series on a monthly basis, we are working with smaller numbers than in our quarterly report and accordingly the possibility of statistical anomalies increases.

Key Findings -

The venture environment continued to exhibit strong deal volume. Valuation metrics were solid although lagged pre-pandemic levels. The life sciences industry showed notable strength.

Financing volume continued strong.

- The number of Silicon Valley venture financings continued to be strong in August, with 73 financings. This was the same number of financings as July, but surpassed the 2019 average of 65 financings per month.

- July and August have been historically slower months for financings, likely due to venture industry participants taking vacations. However, this year there were 146 venture financings in July and August, compared to 105 in July and August of 2019, and 2020 had the highest combined number of financings for July and August in at least five years. Perhaps one side effect of the pandemic is the limitation on people’s ability to vacation has resulted in more time to put into financing activity...

Please see full Report below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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