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Dashboard: Exit proceeds drop in April, fundraising also drops

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All the indices dropped in April, compared with March, with the proceeds from venture-backed M&A and IPOs falling the most.

Acquisitions in April were led by McKesson‘s purchase of Columbus, Ohio-based Covermymeds. But the $1.4 billion deal was still less than half the size of the unicorn Appdynamics, which finalized its $3.7 billion to Cisco the month before.

Similarly, VC-backed IPOs increased in number in April, but the total proceeds couldn’t match the heft of Snap‘s debut in March.

Fundraising (value down 37%)

Fundraising for U.S.-based venture firms dropped in April, totaling $1.7 billion compared with March’s $2.7 billion. Summit Partners raised the most, $730 million for its venture capital fund. A total of 27 U.S.-based firms raised capital in April, compared to 23 in March.

Deals (value down 25%)

Despite a $600 million financing by car-sharing service Lyft, deal value fell April over March. A total of 216 U.S.-based companies raised slightly more than $4 billion in April, according to preliminary data from Thomson Reuters, compared to 432 deals raising $5.3 billion in March. After Lyft, edtech company EverFi raised $190 million for the second-largest deal of the month.

M&A (value down 21%)

Venture-backed M&A had a good month in April, but just not as good as March. A total of 25 U.S.-based companies sold in March, with 10 transactions disclosing financials totaling nearly $3.2 billion. In March, 24 companies sold, with 7 disclosing details for combined $3.9 million. The top deal in April was Covermymeds’ sale to McKesson for $1.4 billion. Ohio-based JumpStart was an investor in Covermymeds

IPO (value down 81%)

There were five venture-backed IPOs in April, compared with three in March. But proceeds fell. The April debuts, led by Cloudera and Okta, collectively raised proceeds of more than $810 million, compared to nearly $4.3 billion raised by the VC-backed IPOs in March, which was led by the outsized IPO of Snap that month.

Based on data from Thomson Reuters

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