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First Quarter Increase in Start-up Valuations

May 16, 2014

​The Wall Street Journal Venture Capital Dispatch blog covered Fenwick & West’s quarterly Venture Capital Survey in an article describing the first three months of 2014 as heady ones for Silicon Valley, with the difference between the rate of up rounds (76%) and down rounds (8%) the greatest since the second quarter of 2007.

The Venture Capital Survey, co-authored by Fenwick partners Barry Kramer and Michael Patrick, details Silicon Valley venture financing trends for the first quarter of 2014. The results show that companies are receiving much higher valuations on their operations—a business world phenomenon known as an "up round." The results, based on 156 financings for Silicon Valley technology and life sciences companies, are further evidence that valuations of venture-backed companies are approaching levels not seen since the dot-com bubble.

The full article is available through the Wall Street Journal Venture Capital Dispatch blog.​