Big venture capital firms benefited most from a record fundraising pace in the first half of 2020, but smaller VC firms may face a tough second half, a Silicon Valley Bank report says
Greg Becker, the president and chief executive of SVB Financial Group and chief executive of Silicon Valley Bank.This story is available exclusively to Business Insider subscribers.The first half of 2020 saw a record pace of VC funding, but much of the proceeds went to big venture capital firms, according to report from Silicon Valley Bank released Wednesday.
Despite the coronavirus pandemic and its dampening effect on investor enthusiasm, industries like fintech, edtech, and biopharma have been strong. In spite of the spreading coronavirus pandemic and the resulting business shutdowns, the rate of fundraising by VC firms in the first half of 2020 surpassed the pace in 2019 by 36%.
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