April Dashboard: Unicorn IPOs and other exits keep surging

Exits are ticking up and it’s not just from unicorn IPOs. M&A also increased in April, thanks to the acquisition of Auris Health.

Meanwhile, fundraising and deals rose in April, making the month a robust one for venture-related activities.

The numbers below are based on preliminary data from Thomson Reuters.

Fundraising (value up 20%)

LPs still have an appetite for U.S.-based funds. In April, 55 U.S venture firms raised more than $4.2 billion in commitments, compared with 45 firms raising $3.5 billion in March. HealthQuest Capital, the Belmont, California, growth-capital firm investing exclusively in healthcare, closed its third fund at its $440 million hard cap. B Capital raised $407 million for its second fund.

Deals (value up 52%)

The preliminary deal count in April saw 397 companies raise more than $9 billion, compared with 401 companies raising nearly $5.9 billion the month before. The largest deal to close in April involved Uber Technologies, which said in late April that PayPal Holdings had agreed to invest $500 million in a private placement in the ride-hailing company prior to its IPO.

M&A (value up 322%)

In April, the value of M&A transactions more than quadrupled, as 34 VC-backed companies were acquired, with nine disclosing transaction prices for a combined deal total of more than $7.5 billion. In March, 25 companies were bought, including 10 with disclosed details, for a total value of nearly $1.8 billion. In April, the largest deal was the $5.75 billion Ethicon paid to scoop up Auris Health, a robotics medical device company. Auris was backed by Highland Capital Partners, Kleiner Perkins, Luz Capital, Section 32 and Mithril Capital Management, among others.

IPOs (value up 32%)

Pinterest continued the unicorn IPO parade, going out on the NYSE and raising more than $1.6 billion in proceeds. Pinterest was one of six VC-backed companies to launch offerings in April, compared with four in March. The April IPOs raised nearly $3.8 billion, compared with $2.9 billion the month before. Besides Pinterest, Zoom Video launched in April with a near $900 million offering.

Source: Thomson Reuters.