PitchBook has issued its annual “U.S. VC Valuations Report” for last year that explores how start-up valuations across the venture lifecycle and within different sectors changed throughout the year.
The report highlights these points:
- Early stage valuations illustrated the tsunami of capital flowing into the venture industry, with the median pre-money valuation growing at 50 percent year-over-year to $45 million.
- The rise in participation by nontraditional investors added an upward pressure on both deal sizes and valuations. At the late stage, the median valuation of deals with nontraditional investor participation reached $200 million, a 2x growth over 2020.
- Public market investors sustained an elevated level of demand for growth assets in the past year, with the valuation step-up for public listings notching a record high of 1.6x in the fourth quarter.
The report can be downloaded at this link.