Venture Financing Report - Q2 2015

Robust Financing Trends Continue


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Overall financing activity in the second quarter of 2015 remained strong, continuing a trend from prior quarters. In Q2 2015, Cooley handled 134 disclosable deals, representing more than $3.9 billion of invested capital. The percentage of up rounds continued to rise, reaching more than 93% of deals during the quarter. This level of up rounds has not been seen in over six years. The data also pointed to a continued uptick in median pre-money valuations for all deal stages, with the exception of Series B transactions. Most notable was the sharp increase in median pre-money valuations for later stage deals. Over 27% of Q2 deals had a median pre-money valuation greater than $100 million.

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.

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