Fundraising (value down 17%)
Fundraising for U.S.-based venture firms has slowed in the past few months, following a hectic Q1 in which $13.8 billion was raised.
In May, 18 U.S-based firms raised $1.32 billion in commitments, according to preliminary Thomson Reuters data. That’s down about 17 percent from the $1.6 billion raised in April from 20 firms.
In May, OrbiMed Advisors and Data Collective were the top fundraisers. OrbiMed Israel Partners II collected $307 million, while Data Collective generated $177.5 million in commitments for its fourth flagship fund.
Deals (value up 29%)
Deals completed were bumped up in May from April. The overall value rose to about $4.5 billion in May from $3.5 billion in April, while deal count dropped from to 288 from 271.
The top deal of the month was photo-messaging app Snapchat, which closed on $1.3 billion in equity. Following that was Clover Health, a health insurer focused on reduced costs to consumers, with $160 million in financing.
M&A (value down 94%)
Disclosed venture-backed M&A fell drastically in May. Fifteen U.S.-based companies were acquired in the month, down from 23 in April. The only disclosed deal during May: Boardvantage Inc was acquired by Nasdaq Inc for $200 million. That amounts to a 94 percent decline from April, when seven disclosed transactions combined for $3.3 billion in total value.
IPO (proceeds up 662%)
The number of VC-backed IPO deals soared in May. Six deals had a combined equity value of $381 million, compared with one deal valued at $50 million in April. The largest offering of May was Intellia Therapeutics Inc, a gene-editing curative therapeutic company, which went public for $124.2 million. Next up was high-speed-communications developer Acacia Communications Inc, which debuted in a $119 million offering.
Source: Based on Thomson Reuters data