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Pitchbook: pre-IPO companies grow by 77% between funding rounds

Pitchbook released a report on US venture capital investments in the second quarter and the first half of 2021.

Indicators for late-stage startups (exactly what we invest in the portfolio of the Global Technologies Private Portfolio) are record-breaking.

  • 77% YoY is the median growth in the estimated valuation of a late-stage startup between funding rounds.
  • 70% is the median growth in the valuation of a late-stage startup between the last round of funding and the IPO.
  • 120% is the median growth in the valuation of a late-stage startup between the last round of funding and acquisition.
  • $882.4 million is the average, $160 million is the median valuation of a late-stage startup in the next round of funding.
  • $2.9 billion is the average, $699.8 million is the median valuation of a late-stage startup when it goes public.
  • 7 late-stage startups in the first half of this year went to IPO with a valuation of more than $40 billion. For the whole of 2020, there were 5 such startups, for the whole of 2019–3.

* All valuations are pre-money, excluding funds raised.