Venture capital firms invested $136.5 billion in 10,777 U.S.-based companies in 2019, down from the $140.2 billion that was invested in fewer companies — 10,542 — a year earlier, according to the PitchBook-NVCA Venture Monitor released Tuesday.
At the same time, venture capital firms had fewer exits in 2019, recording 882 that were worth a combined $256.4 billion, compared to 1,015 exits totaling $130.2 billion in 2018.
U.S. venture capital money managers also raised less capital in fewer funds in 2019: $46.3 billion in 259 funds, down from $58 billion in 299 funds in 2018.
Nontraditional investors, such as sovereign wealth funds and family offices, participated in 85% of the 252 megadeals, defined as transactions more than $100 million in 2019. Overall, investment by non-traditional investors in 2019 in terms of deal count and total value fell to $97 billion in 2,746 deals from $105.4 billion in 3,026 transactions in 2018.
The PitchBook-NVCA Venture Monitor is a quarterly report on venture capital activity by the National Venture Capital Association and PitchBook with the support of Silicon Valley Bank and Carta.