US venture capitalists support two-quarter valuation growth of 30%

Beijing time August 12 afternoon news, according to foreign media reports, the U.S. law firm Fenwick & West Wednesday report showed that the second quarter of this year, the U.S. venture capital companies to support the valuation of the growth rate of 30% quarter-on-quarter, but the same period of venture capital company financing has slipped. The Fenwick & West report showed that in the second quarter, 55% of venture capital-backed U.S. start-ups had an increase in valuations, 27% in valuations and 18% in valuations.　　The first-quarter valuation growth was 49%, down 32%, unchanged at 19%.　　Barry Kramer, Fenwick & West partner Barry Clemer, said the report did not mean that the economy was recovering from the recession, despite a rise in valuations. Although venture capital firms have found some companies to invest in, investment returns have increased, but venture capital firms have seen their financing fall.　　Ms. Kramer pointed out that data from Thomson Reuters and the US venture Capital Association showed that 38 venture capital companies in the United States financed 1.9 billion dollars in the second quarter, only half of the $3.7 billion trillion in the first quarter. "Venture capitalists think there are a lot of good companies that should invest, but if others disagree, there is no chance of less investment and lower valuations," Ms. Kramer said.　　"In the second quarter, U.S. venture capital invested $6.5 billion trillion in start-ups, but their financing was only $1.9 billion trillion." Ms. Kramer blamed the slump in venture capital firms ' financial decline and investor aversion to risk. Although venture-backed and eventually-listed companies rose to 17 in the quarter, up from 9 in the first quarter, there was still a big gap with the turn of the century.　　Of the 17 listed companies in the second quarter, 9 were technology companies. Among venture-backed start-ups, the most high-profile IPO in the second quarter was the IPO of Tesla Motors, an electric car company.　　The company listed in June this year, a total of 226 million dollars raised. In the Fenwick & West Survey, clean-tech companies such as Tesla have the most significant valuations, and software, Internet/digital media companies are doing well. Valuation performance in the life sciences and hardware sectors is weak. But Ms. Kramer also warned of a glut of energy in the clean energy sector. Because there were only 9 deals in the second quarter of this area. The low valuation of hardware firms is mainly due to the fact that the sector is dominated by several large companies, such as Apple, Nintendo and Sony.　　The valuation of life sciences is largely the result of regulatory restrictions by the U.S. Food and Drug Administration (FDA) and uncertainty about the future impact of the US health care reform bill. However, reports published by PricewaterhouseCoopers, the Singapore Venture Capital Association and Thomson Reuters show that life sciences andThe investment in clean tech enterprises accounted for a large part of the growth of venture capital in the first and second quarters.　　As an alternative to venture capital enterprises, venture-backed venture capitalists were traded for only 79 transactions in the second quarter, totaling 4.3 billion U.S. dollars, 103 in the first quarter and a total of 6 billion dollars. As a result, Fenwick & West reports that the second-quarter liquidity of US venture capital firms was only "moderately elevated". Ms. Kramer argues that venture capital firms will still have more investment than they can raise in the future. (Ding Macro)