Ahead of our annual outlook series that starts Monday, here’s PitchBook’s assessment of 2018. What are the national themes? Here they are:
- Unicorns will hit the exits, with haircuts coming to several.
- Net cashflows to limited partners will stay positive as exit value gets a boost.
- ICOs will become more institutionalized.
- Fintech consolidation will accelerate as business models mature and tech giants move into financial services.
- Continued bifurcation of VC valuations, with late stage pricing remaining elevated while angel and seed sees a pullback.
- Alternative exits become less of an alternative.
- Median fund size will continue to grow.
- Venture activity will increase in entrepreneurial hubs outside California.