Venture-backed M&A reached nearly $9 billion in the third quarter, led by the sale of Jet.com to Wal-Mart for $3.3 billion.
The quarter’s totals still represented a 36 percent drop from Q2, which saw the completion of the $10 billion Stemcentrx acquisition by AbbVie in June.
Still, Q3 was pretty good for venture investors. The three-month period saw two tech unicorns exit.
In addition to the Jet.com sale, announced in August and completed in September, Unilever paid a reported $1 billion to acquire Dollar Shave Club. That deal, announced in July, closed in late August.
Overall, Q3 saw 69 VC-backed companies get acquired, with 21 disclosed prices. In comparison, Q2 saw 64 venture-backed companies scooped up, with 12 disclosing the financial details, according to data from Thomson Reuters.
Downloadable Data: venture-backed-ma-q3-2016-disclosed
Downloadable Data: venture-backed-ma-september
Photo of exit sign courtesy of ©iStock/Wayne Stadler