Venture capitalists around the globe appeared to continue pouring money into high priced deals in the first quarter, according to market monitors PitchBook.
Globally $22.9 was invested, a 26 percent increase from the same quarter a year ago. With deal volume down by almost a quarter, deal size rose sharply. The median deal in the quarter was $3.5 million worldwide, up 67 percent, PitchBook found.
At the same time, pre-money valuations across deal stages jumped 84 percent to $28 million. Series C rounds had a median pre-money valuation of $85.3 million, while Series D transactions saw a median of $289.6 million, PitchBook said.
Here are the numbers: the first quarter’s $22.9 billion of worldwide investment fueled 1,894 deals. This compares with $18.2 billion and 2,495 deals in the first quarter of 2014. It was the second quarter in a row of falling deal count.
Sixty-four percent of the deals took place in North America and 21 percent in Europe.