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Q2 2024 PitchBook-NVCA Venture Monitor

August 1, 2024
11:00 am - 2:00 pm

Due to lingering liquidity constraints caused by low exit counts, the US VC ecosystem continues to face dealmaking pressure. Based on preliminary data, annualized numbers of acquisitions and public listings are on track to land at the lowest level we have observed in a decade.

Market sentiments have also experienced a visible shift throughout Q2. While the IPOs of Reddit and Astera Labs brought hope earlier in the year, the excitement has dimmed as there does not seem to be a pipeline of high-profile IPO candidates.

In partnership with the National Venture Capital Association (NVCA) and sponsored by J.P. Morgan, Dentons, and Deloitte, this webinar will highlight key findings from the Q2 2024 PitchBook-NVCA Venture Monitor report and what investors should consider for the year ahead.

  • Early-stage VC deal value jumped by 56.9% QoQ, notching $16B in Q2—but the figure is buoyed by select outsized deals.
  • The pace of dealmaking remains sluggish, suggesting a flattening of deal activity.
  • 2024 has a mere total of 35 public listings so far, and the lack of exits continues to weigh on LP liquidity constraints.
  • Fundraising activity remains diminished, with established firms commanding an advantage when securing LP commitments.
Register

Speakers

Shiloh Tillemann-Dick
Shiloh Tillemann-Dick serves as the research director at NVCA. His work focuses on the development of qualitative and quantitative analytical products that provide the rest of the team with the material they need to tell NVCA’s story. Before joining NVCA, Shiloh was the political director at the Leadership Now Project, where he developed the organization’s political strategy, oversaw expansion into eight new states, and organized the group’s 2022 candidate program. Shiloh is a graduate of Yale University and has lectured on analytics, public policy, and project management at the University of Maryland.
Andy Kelly
Andy Kelly is a managing director and relationship executive in the Venture Capital coverage group for J.P. Morgan Commercial Banking, within the Middle Market Banking & Specialized Industries business. In this role, he is responsible for developing relationships with key VC firms from his base in the Bay Area. He is a current independent board member for US Speedskating, as well as a former board member for the American Red Cross Bay Area chapter and a former advisory board member for USAA.
Victor Boyajian
Victor Boyajian is the global chair of Dentons Global Venture Technology and Emerging Growth Companies Group. Victor leads a global team focused on representing emerging growth technology companies, venture capital firms, corporate strategies, and private equity firms in a broad array of financing and strategic transactions from Silicon Valley to Boston to New York and around the globe.
Heather Gates
With more than 30 years of financial services experience, Heather serves as the national Private Growth Leader, overseeing the Deloitte Private, Emerging Growth Company, and Private Equity businesses within Audit & Assurance.
Kaidi Gao
Kaidi Gao is a venture capital research analyst at PitchBook, where she contributes to the VC team’s core reports and produces quarterly thematic analyst notes on various topics. Her research and expertise focus primarily on venture debt, VC in the APAC region and seed- and early-stage dealmaking. Prior to this role, Gao worked as a senior data operations associate, overseeing PitchBook’s VC-backed company dataset. Gao received a master’s degree in Near Eastern Studies from Princeton University and a bachelor’s degree in Asian and Middle Eastern Studies with a focus on Arabic from Duke University. She is based in PitchBook’s Seattle office.
Christine Egbert
Christine Egbert is the General Manager of Juniper Square's fund administration business with over 25 years of industry experience. Prior to joining Juniper Square, Egbert served as Managing Director and Co-Head of Private Equity Americas at SS&C Technologies, the world's largest independent hedge fund and private equity administrator. There, she oversaw teams responsible for delivering global fund administration solutions to private equity, venture, infrastructure, private debt, fund of funds, and real asset clients. Egbert holds an accounting degree from Flager College and an MBA from the University of North Florida.