Silicon Valley Venture Capital Survey – Second Quarter 2021

By: Cynthia Clarfield Hess , Mark A. Leahy , Khang Tran

Our latest survey analyzed the terms of 358 venture financings closed in the second quarter of 2021 by companies headquartered in Silicon Valley.

Key Findings Include:

  • The average and median price increases of financings and the percentage of up rounds were the highest recorded in a quarter in the history of this survey.
  • Series B and D financings recorded the strongest valuation results in the quarter and the highest average and median price increases for those series of financings in the history of this survey.
  • Valuation results for the internet/digital media and software industries strengthened compared to the previous quarter, while valuation results for the hardware industry weakened compared to the previous quarter.
  • The use of investor-friendly terms, such as senior and multiple liquidation preferences, participation rights, cumulative dividends and redemption rights, remained low.

Download the full report.