Venture Financing Report - Q1 2015

A Strong Start to the Year

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Overall financing activity in the first quarter of 2015 remained robust, continuing a trend from the final quarter of 2014. In Q1 2015, Cooley handled 104 disclosable deals, representing more than $2.7 billion of invested capital. The percentage of up rounds continued to rise, reaching more than 90% of deals during the quarter. This level of up rounds has not been seen in over six years. The mix of deals during the quarter was also of note. More than 45% of Q1 transactions were Series A deals. The data also pointed to a decrease in median pre-money valuations in Series A and C transactions. Conversely, median pre-money valuations increased in both Series B and D+ deals.

This quarterly summary provides data reflecting Cooley's experience in venture capital financing terms and trends. Information is taken from transactions in which Cooley served as counsel to either the issuing company or investors.

View our latest report in pdf format or visit Cooley GO to view the interactive visualization.

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Tom Coll Partner San Diego
Brent Fassett Partner Colorado
Craig Jacoby Partner San Francisco
Ryan Naftulin Partner London
Patrick Loofbourrow Partner Shanghai, San Diego
Mike Lincoln Vice Chair Reston, Washington, DC
Babak Yaghmaie Partner New York
Pat Mitchell Partner Boston, New York
Matthew Bartus Partner Singapore
Dave Young Partner Los Angeles
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