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August 2017

2017 Unicorn Report

By Unicorn Technology

The unicorn frenzy has slackened in the US when compared to 2014 and 2015, but still more billion-dollar companies are being created than are turning that valuation into cash for their investors. While several of these companies have completed successful exits this year, more value is locked in unicorn companies than ever before.

The 2017 Unicorn Report slices through data surrounding these billion-dollar companies to analyze trends ranging from step-ups to down rounds to exit prospects. Included in the report are detailed tables packed with the specific deal terms surrounding dozens of unicorns.

Click here to download the Pitchbook 2017 Unicorn Report: PitchBook_2017_Unicorn_Report

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University Endowments Reporting Significantly Improved Investment Returns Over Past Fiscal Year

By Endowment Index™

Early reporting data from schools providing endowment performance for the fiscal year ended June 30,2017 suggest that university endowments boosted their investment returns significantly over the last fiscal year from 2016. The median gain for all colleges reporting is 11.3 percent, while the median gain for larger schools (over $500 million in assets) was 13.3 percent for the 12-month period ended June 30th as reported by the Wilshire Trust Comparison Service. Comparatively, the Endowment Index® gained 13.47 percent during the period. Read the full article by Janet Lorin at Bloomberg.com.ewm-e-logo-tm

The United States of Unicorns

By Unicorn Technology, Venture Capital

Collectively, US unicorns are worth approximately $360B. Combined, these companies have raised just over $73B. To see the full list of US unicorns and associated data, check out the CB Insights blog.

The United States is home to 105 unicorn companies valued at $1B+. As of 7/25/2017, six private US companies are worth over $10B. The two most valuable unicorns in the US are Uber ($68B) and Airbnb ($29.3B). Palantir Technologies and WeWork, both valued at $20B, are tied for third.

Of the top four highest valued, only WeWork (which is based in NYC) is headquartered outside California. California has the highest unicorn “population” of any US state by far, with 62 billion-dollar startups inside its borders. New York ranks second with 15, followed by Massachusetts and Illinois with five each. Eight other states and the District of Columbia are also home to at least one company worth $1B+.

Using the CB Insights database and our real-time global unicorn tracker, we visualized the locations of every US-based unicorn in the map below.

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KEY INSIGHTS ABOUT THE COMPANIES IN THIS MAP:

  • Collectively, US unicorns are worth approximately $360B.
  • Combined, these companies have raised just over $73B.
  • After California, New York, Massachusetts, and Illinois, the next-highest unicorn populations are found in Utah (with four) and Florida (with three).
  • The top five most well-funded US unicorns are: Uber ($15.1B raised), Airbnb ($4.4B), WeWork ($2.76), Infor ($2.63B), and Lyft ($2.46B).
  • The oldest unicorn in the US is the greentech company Bloom Energy, which reached a valuation above $1B in 2009.
  • The newest unicorn in the US is 3D printing startup Desktop Metal, which became a unicorn in July 2017 after raising a $115M Series D.
  • The three most active investors in US-based unicorns, by total number of deals to these companies, are the VC firms Sequoia Capital, Andreessen Horowitz, and Tiger Global Management.

Learn about our Unicorn Technology Fund by registering here: https://endowmentwm.com/accredited-investor-signup/

Source: CBInsights

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