STATE OF THE MARKETS
Q4 2018 Report
State of the Markets Q4 2018
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Awash in Capital... for Now
So far, 2018 has played out as anticipated: strong fundraising, elevated valuations and a solid environment for both IPOs and M&A. Now heading into the fourth quarter, we have seen a return of volatility and accompanying market softness for tech. With questions about the economic cycle lingering, it helps to look back to tech fundamentals during the previous recession for guidance.
In the face of heightened geopolitical concerns, U.S. venture firms are on pace for decade-high fundraising. That capital is magnified by non-traditional investors who remain especially active in mega-rounds at the later stages, pushing investment in startups to more than $80 billion through just the first three quarters of 2018. With the San Francisco Bay Area saturated with growth capital, investors are increasingly eyeing startup ecosystems across the country for attractive returns.
In our special report on Europe, we find striking parallels to the U.S. story. Startups across the continent are now accessing the full stack of growth capital through private markets. With a developed ecosystem now raising its ambitions, 2018 was the best year of European tech exits in a decade. And in emerging hubs like those in Germany — home to SVB’s newest office — opportunities to innovate and invest remain
Download the latest State of the Markets report to learn more.
This material including, without limitation, to the statistical information herein, is provided for informational purposes only. The material is based in part on information from third-party sources that we believe to be reliable but which have not been independently verified by us, and for this reason, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice, nor is it to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation, offer or recommendation to acquire or dispose of any investment or to engage in any other transaction.
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