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State of the Markets Report Q4 2020
Key takeaways
The innovation economy continues to demonstrate its resiliency and is poised for continued success amid the new normal.
01
SVB Proprietary Data shows VC-backed companies extend cash runway to new heights.
Companies have cut expenses and raised additional capital, leading to an increase of 25% growth in median cash runway between Q2 and Q3.
02
VC funds sit on record dry-powder reserves, and fundraising remains strong.
US VC fundraising is expected to eclipse $72B in 2020, the highest it has been since 2000.
03
78% of VC-backed Tech IPOs YTD occurred in Q3, and 44% occurred in September.
These Tech IPOs have garnered favorable valuations — the median revenue multiple sits at 19x.
Summer Surge Ahead of Election
While the past three months have seen a surge in IPOs (78% of VC-backed Tech IPOs YTD1 occurred in Q3, and 44% occurred in September), things will likely slow in the final quarter until management teams have a clearer picture of what the future looks like post-election.
Explore Other SVB Reports
State of the Markets
The Future of Robotics
China in the Global Innovation Ecosystem
State of The Markets Q4 2021
Written and researched by SVB experts
Our deep relationships with top entrepreneurs and investors inform our insights and give us a vantage point unlike any other bank.
Eli Oftedal
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Senior Researcher, Market Insights
Eli is a senior researcher for SVB’s Market Insights, which provides data-driven research and analyses on the innovation economy and venture ecosystem.
Andrew Pardo
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Sr. Associate, Research
Andrew Pardo is a senior research associate responsible for conducting data-driven analyses on the innovation economy that SVB serves.