Background We analyzed the terms of 185 venture financings closed in the first quarter of 2019 by companies headquartered in Silicon Valley. We found that valuation results continued to be strong, with the average price increase in Q1 slightly lower than in the prior quarter, though still substantially higher than the historical average. The internet/digital media software industry recorded the strongest valuation results.
Overview of Fenwick & West Results -
Valuation results continued to be strong in the first quarter of 2019, but declined moderately from the three-year highs of the prior quarter.
β’ Up rounds exceeded down rounds 81% to 11%, with 8% flat in Q1 2019, a moderate increase in the percentage of down rounds compared to the prior quarter when up rounds exceeded down rounds 81% to 8%, with 11% flat.
β’ The Fenwick & West Venture Capital Barometerβ’ showed an average price increase in Q1 2019 of 75%, a decline from the 85% recorded in the prior quarter, but still substantially higher than the historical average of 58%.
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