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Joanna Glasner is a reporter for Crunchbase.
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Startup - Investors - US - Canada - Money
Startup investors in the U.S. and Canada have been putting a little less money to work across a lot fewer deals in recent months.
Overall, investors put a projected $21.9 billion into seed through technology growth-stage rounds in Q4, down from a projected $28.1 billion in Q3. Deal count fell most markedly at the earliest stages, with the projected number of closed rounds for seed-stage startups down by more than one-third from the prior quarter.
Q4 - Pullback - Contrasts - Comparables - Year
The Q4 pullback contrasts with upbeat comparables for the full year. For all of 2017, U.S. and Canadian startup investors put a projected $89.4 billion to work, up from $82 billion in all of 2016. A smattering of really big, mostly late-stage rounds, boosted by SoftBank’s unprecedented spending spree, contributed to the higher annual totals.
Below, we look at some of the key data points for the just-ended quarter and year, including early and late-stage funding, round counts, M&A and IPOs.
Investment - Totals - Quarter - Year - Broadly
First, we’ll look at investment totals for the quarter and full year. Broadly, Q4 showed some pullback from Q3, but projected investment totals were still up year-over-year across most stages for 2017.
Let’s start with Q4 numbers. Out of the $21.9 billion in projected total investment for the quarter, about 44 percent, or $9.7 billion, went to late-stage deals.
Early-stage - Series - A - B - Q4
Early-stage (Series A and
rounds, meanwhile, drew $8.7 billion in Q4, boosted by some unusually large deals. Seed and angel deals, which are always the smallest in dollar terms of any stage, brought in a projected $886 million.
In the chart below, we look at investment totals by stage for Q4 and the preceding four quarters. It should be noted from this that the notion of a Q4 pullback is relative. The third quarter of 2017 was a particularly strong one...
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