REVIEW

In 2015, the venture capital market produced strong results overall. Financing activity remained consistent with the high level of 2014, while deal proceeds increased by almost one-quarter, as the median pre-money valuation hit a record for the second year in a row. The number of VC-backed US issuer IPOs fell below the yield for 2013 and 2014, but still represented the fourth-highest annual figure since the dot-com boom era, and the median acquisition price for VC-backed companies was the highest since 2000. Prospects for VC-backed companies generally appear favorable heading into 2016, although both financing and liquidity activity may face headwinds in the coming year.

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