Charts: A look at VC exits |
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Charts: A look at VC exits
The latest report from Dow Jones VentureSource provides a bit of mixed message on venture-backed exits during the third quarter. First, the good news: The amount of capital raised through initial public offerings increased to $451 million -- the highest amount since 2007.
Now, the bad news: The capital raised came through only two venture-backed IPOs, with the vast majority via A123 Systems' $371 million offering.
Meanwhile, the M&A market remains relatively weak.
During the third quarter, VentureSource recorded 71 venture-backed M&A deals for a total value of $2.25 billion. That compares to 84 deals at 5.2 billion for the same period last year. The median amount paid for companies also has dropped to $22 million, down 52 percent compared to the third quarter last year.
It is also taking longer, a median of 6.1 years, for venture-backed companies to achieve a liquidity event.
However, VentureSource researchers note that there are some big deals that are expected to close in the fourth quarter that could boost the numbers. (Including Amazon.com's $850 million purchase of Zappos).
“While it appears that the market is still holding back despite lower valuations, an upswing in M&A activity is on the horizon,” said VentureSource director of research Jessica Canning in a statement. We've seen a few M&A deals in the Seattle startup community -- Others Online, Free & Clear and Digeo -- in recent weeks. But the market remains relatively weak.
And while it has been more than two years since a Washington company went public, it appears that Seattle biotech company Omeros is getting closer to venturing out.
Here are more charts from VentureSource:
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