Date
22 October 2018
'Unicorns' took about a quarter of venture capital funds raised in the US so far this year, according to a report. Photo: Reuters/gsb.stanford.edu
'Unicorns' took about a quarter of venture capital funds raised in the US so far this year, according to a report. Photo: Reuters/gsb.stanford.edu

VC financing hits 10-year high in the US

Venture capital financing in the US has hit a 10-year high, and the uptrend is expected to sustain in the near future, the Hong Kong Economic Journal reports.

In the nine months to September, American startups raised a total of US$84.3 billion, surpassing the full-year 2017 amount of US$82 billion, the paper said, citing data from PitchBook, a leading information platform on venture-capital investment.

There were 143 transactions exceeding US$100 million, about 39 percent more than a year ago.

Unicorns accounted for one quarter of the money raised. In the third quarter, there were 39 transactions from this group, according to the report.

Among the most popular sectors were pharmaceuticals and biotechnology.

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RT/RC

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