Hours of Buenos Aires | Venture Capital Rise Records Record “Unicorn Births”

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Venture capital funding for startups around the world peaked in a decade in the second quarter, led by a record for US-based companies, a research firm said Thursday.

Startups around the world raised $ 156 billion in the April-June period, a 157% jump from last year, according to a CB Insights report.

That included a record $ 70 billion for the United States, led by startups in Silicon Valley and in the FinTech or FinTech sector, according to the report.

The influx of venture capital funds during the quarter led to the creation of a record 136 “unicorns,” or privately-funded companies worth at least $ 1 billion, according to CB Insights.

The United States led the way with 75 “births” of unicorns, according to the report, followed by Asia with 33 and Europe with 17.

Firms in Silicon Valley attracted some $ 23.7 billion in funding during the period, while those in New York City raised $ 11.2 billion and those in Boston nearly $ 8 billion.

“Silicon Valley remains the largest technology hub in the United States, but other cities like Los Angeles, Denver and Austin have also reached new funding heights,” the report notes.

Globally, more than 20% of all funding went to the FinTech sector, which hit a new high of $ 33.7 billion in the quarter with an increase of 191%.

US investment firm Tiger Global was the most active lender in the quarter, with 81 deals, according to the report.

The world’s most valuable unicorn, worth around $ 140 billion, is Chinese company ByteDance, the parent company of social media phenomenon TikTok, followed by US fintech company Stripe, worth an estimated 95 billion dollars, according to CB Insights.

The influx of venture capital has led to an increasing number of unicorns, who are able to raise funds at high valuations without being publicly traded.

– AFP


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