We are pleased to present the 2017 NVCA Yearbook, documenting trends and analysis of venture capital activity in the United States from the past year and capturing historical data and information about venture’s role in fueling entrepreneurship in America.
What is the NVCA Yearbook?
Now in its 20th year, the NVCA Yearbook is an annual publication that provides statistics on the size and impact of the U.S. venture industry, investments into startups, capital raised and managed by venture capital firms, and exit activity. The Yearbook is an indispensable resource for anyone working in venture capital and has long been seen as the benchmark for tracking and analyzing venture capital activity from year-to-year.
What’s New in the 2017 Yearbook?
This year, NVCA made several changes to the Yearbook, including an updated format and layout of the data, expanding the highlights of NVCA and its role in the entrepreneurial ecosystem, and sourcing the data to PitchBook, now the official data provider of NVCA. In addition to the Yearbook, NVCA is making available a copy of a supplementary data pack in PDF format (available to the public) and XLS format (available only to NVCA members).
How is the NVCA 2017 Yearbook Different than the Q4 2016 PitchBook-NVCA Venture Monitor?
The Yearbook references many of the same datasets as the Venture Monitor; however, the Yearbook takes a deeper dive into industry trends and analysis, whereas the Venture Monitor is more of a quarterly snapshot. For example, data in the Yearbook that’s not in the Venture Monitor include: U.S. venture capital assets under management; analysis of active firms and funds; geographic breakouts of VC activity and AUM; and analysis of exit valuations and age characteristics. The Yearbook also has a broader audience, so it provides context on how venture capital works—including a detailed glossary of terms—and the impact the venture ecosystem has had on the U.S. economy.
The Yearbook is filled with facts and insights on the industry. Five interesting highlights include:
- In 2016, data shows 898 venture firms in existence, managing 1,562 active venture funds and translating to approximately $333 billion in U.S. venture capital assets under management.
- At the end of 2016, 334 venture firms managed $50 million or less. By comparison, only 68 firms managed $1 billion or more of U.S. venture capital assets under management.
- Last year, 2,105 venture firms—including corporate venture groups—participated in at least one investment in a U.S.-based startup. Of those, 738 participated in a startup’s first round of institutional funding.
- The U.S. continues to attract a majority of global venture fundraising, investment, and exit dollars; however, its share has dropped compared to levels a decade ago. The U.S.’s share of global VC investment dropped from 81% in 2006 to 54% in 2016.
- The median size of a venture fund reached $75 million in 2016, the highest median since 2008. Outside of California, Massachusetts and New York, VC fund sizes remained relatively small, with a median 2016 fund size of $23.5 million.
Access the Yearbook