Q1 Venture Capital Spending And Number Of Deals Down, M&A Activity Drops 44 Percent And Pre-Money Valuations Plummet
Dow Jones Venture Source released its quarterly report on the state of venture capital, including data on number of VC deals, funds raised, M&As and IPOs in the technology sector. According to the report, U.S.-based companies raised $6 billion from 752 venture capital deals in Q1 2013, an 11% decrease in capital and a 6% decrease in number of deals from the previous quarter. Compared to the same period in 2012, there was an 11% decrease in deals and a 12% decrease in amount invested. Additionally, median pre-money valuation dropped 79% from 4Q 2012.
Deals in Information Technology (IT), Healthcare, Energy and Utilities, and Industrial Goods all declined, and deals in Business and Financial Services, Consumer Goods, and Consumer Services investment increased from the previous quarter.
The largest funding deals in the Internet and IT sector included Pinterest’s $200 million raise and Living Social’s $110 million raise. By VC firm, NEA was the most active investor with 22 deals, followed by 500 Startups, Andreessen Horowitz, Y Combinator and Greylock Partners, respectively.
In terms of VC funds, 43 funds raised $4.2 billion in Q1 2013, a 16% increase in number of funds and 65% increase in amount raised from prior quarter. The big raise for the quarter by a VC fund was Battery Ventures X LP, the largest U.S. venture capital fund of the year, raised $650 million, accounting for 15% of the total amount raised in the quarter. Spark Capital announced a new $425 million fund and Redpoint raised $400 million in the quarter. The median U.S. fund size for the quarter was $143 million.
Despite a 16% drop in raised capital, healthcare saw the largest investment allocation by sector with 162 deals raising $1.9 billion and accounting for 30% of the total venture capital investment. IT reported a 30% decrease in amount invested with $1.9 billion in 256 closed deals, 10% drop in number of deals compared to the previous quarter.
M&A activity declined in the first quarter of 2013, with the fewest exits since the first quarter of 2009. Acquisitions totaled $4.3 billion, a 44% decrease in M&A activity and a 24% decrease in capital raised compared to the previous quarter.
In terms of IPOs, Nine venture-backed companies raised $643 million through public offerings in 1Q 2013, a 55% year-over-year drop from $1.4 billion raised by 20 IPOs in 1Q’12 and a 47% decrease compared to the previous quarter. The largest IPO of the quarter was Marin Software, which completed a $105 million IPO.
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1Q Global PC Shipments Will Be Even Worse Than Expected, Thanks To Slowness In China, Says IDC
Global PC shipments are expected to decline even more due to slower-than-expected growth in China, the world’s top PC market, during the first quarter of 2013, according to new data released by IDC.
1Q shipments will decline by 7.7 percent, two percentage points more than what IDC had expected as vendors and the supply chain adjust to the Windows 8 transition. Furthermore, unless PC makers come out with competitive new products with pricing comparable to tablets, shipments are likely to drop even more.
“Our February monthly data suggest that we could see a drop touching double-digits in the first quarter and a mid-single-digit decline in the second quarter before we see any recovery in the second half of the year. Even getting to positive growth in the second half of 2013 will take some attractive new PC designs and more competitive pricing relative to tablets and other products,” said IDC Worldwide PC Trackers program vice president Loren Loverde in a statement.
It’s no surprise that tablets continue to eat into PC shipments. A week ago, IDC increased its 2013 forecast for the worldwide tablet market to 190.9 million, up from its previous forecast of 11 percent between 2013 and 2016, because of a predicted increase in shipments of smaller, lower-priced devices.
The Chinese market accounted for over 21 percent of global shipments in 2012. Slowdown in PC shipments is partially due to the timing of the Chinese New Year holiday and other expected factors, but budget cuts introduced by the government as well as anti-corruption measures also decreased purchases more than expected. Though shipments should recover somewhat in China, it will not be enough to make up for the dip in shipments during February, said IDC.
In comparison to China, IDC expects that Europe, the Middle East and Africa, Latin America, and the Asia-Pacific regions will all see close-to-forecast market performance.
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Use WPeMatico to Create a Free WordPress AutoBlog for Legitimate Purposes
Info Level: Beginner Presenter: Eli the Computer Guy Date Created: January 30, 2013 Length of Class: 23:39 Tracks Web Publishing WordPress Prerequisites Be able to install and administer a basic WordPress site. Purpose of Class This class teaches students how to create a WordPress site that automatically reads RSS feeds and turns the entries into Blog Posts on the site. Class Notes NEVER use an Autoblog on a Domain Name that you care about. Google WILL drop your Page Rank. There are numerous AutoBlog plugins. WPeMatico is free and reliable. Resources wordpress.org
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