2019年Q2美国中小型银行业风险投资季报.pdfVIP

North America Equity Research 08 August 2019 U.S. Mid- and Small-Cap Banks 2Q19 Venture Capital Quarterly While the Pace of Record VC Investments Continues, Mega Rounds Still Crowding Out; IPOs Set a Record Venture capital investments of $28.7 billion in the second quarter of 2019 marked a U.S. Mid and Small Cap Banks continuation of very strong momentum in the innovation economy. As a result, 2019 AC Steven Alexopoulos, CFA VC investments appear on track to at least match the prior year’s $116 billion year for (1-212) 622-6041 venture capital spend which was the highest level since the year 2000. In the first half steven.alexopoulos@jpmorgan.co of 2019, VC spend has increased by 15% over the prior year period. Deal count rose Bloomberg JPMA ALEXOPOULOS GO 3% q/q but is 16% lower on a y/y basis, reflecting a continuation of capital inflows Anthony Elian, CFA into larger deals, which crowds out smaller-sized or earlier stage deals. In fact, it was a (1