Silicon Valley Venture Capital Survey – Third Quarter 2021

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

Our survey analyzed the terms of 260 venture financings closed in the third quarter of 2021 by companies headquartered in Silicon Valley.

Key Findings:

  • Valuation results remain near historical highs with the average price increase of financings hitting a new record high in the quarter and the median price increase of financings and percentage of up rounds declining only moderately from the record highs recorded in the previous quarter.
  • Series C financings recorded the strongest valuation results in the quarter and the highest average price increase for that series of financing in the history of this survey.
  • As has been the case throughout 2021, the internet/digital media industry recorded the strongest valuation results in the quarter, followed by the software industry. The life sciences industry recorded the greatest gains in average and median price increases compared to the previous quarter.

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