The annual NVCA Yearbook documents 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.
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 either through an initial public offering (IPO) or merger and acquisition (M&A).
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Takeaways from the most recent NVCA Yearbook:
GLOBAL VC INVESTMENT
While global venture investment has increased, the share going to U.S. startups has declined, from 84% in 2004 to 51% in 2020.
2020 U.S. IPOS
103 venture-backed companies went public in 2020, accounting for 22% of all U.S. IPOs last year. These 103 companies represented $222b in value at IPO. VC-backed companies comprised 42% of all U.S. IPOs from 1974 to 2014.
ASSETS UNDER MANAGEMENT
Venture capital compared with other asset classes:
$74.5b raised via VC funds in 2020 to deploy to promising startups
MEDIAN U.S. VC FUND SIZE
The median size of VC funds in the traditional venture hubs of California, Massachusetts, and New York is $100M. Outside those states, the median is $24.6M:
The NVCA Yearbook also offers an overview of NVCA activities and initiatives in 2020:
- NVCA worked diligently to ensure COVID-19 relief resources provided by the government, such as the Paycheck Protection Program (PPP), Payroll Tax Deferral, and Refundable Employer Credit, were available for and usable by VC-backed companies.
- NVCA launched Venture Forward, its 501(c)(3) supporting organization, whose mission is to shape the future of venture capital for the better by promoting a strong and inclusive community through programming, education, and other resources that will empower the startup ecosystem’s ability to thrive.
- NVCA launched a ‘Startups Combating COVID-19’ campaign to highlight VC-backed startups helping address COVID-19 to policymakers and the general public. We then expanded this initiative later in the year with a ‘Venture Answers’ campaign to further spread the message that VC-backed companies are responding to the pandemic and are crucial to our country’s economic recovery.
- NVCA was thrilled to see a final rule released by several agencies that revises the Volcker Rule to once again allow banks to invest in venture capital funds. This reform to the Volcker Rule, for which NVCA has long advocated, is especially important to small and regional VC funds who have greater challenges raising capital and will put capital to work building startup communities around the country.
- NVCA delivered a strong schedule of virtual programming, including the Stanford/NVCA Venture Capital Symposium, the Strategic Operations & Policy Summit, the annual StratComm Summit focused on communications and public relations best practices, and also provided a host of COVID-19 information and resources for VCs and startups.