ROUNDING DOWN LESS VC FOR THE LITTLE GUY

摘要

Venture capital investments aren't based on whimsy (mostly). Perhaps a young company's management team is experienced, or lax regulations in the sector bode well for unbridled growth. Or, you know, maybe canny investors are just making a lot of small bets to see what sticks. In recent years, VCs had been more willing to give up-and-coming startups a chance; fledgling companies were responsible for half of all funding rounds by mid-2015. But over the next year, the number of seed and angel rounds dropped by a third. "I think a jump in seed and series A funding follows a major technology innovation, such as social media in the late 2000s," says David Wessels, a finance professor at Wharton. But when that flurry of deals subsides, VC money still needs a home. "There is so much capital available for later-stage deals now." Earlier-stage companies, well, they haven't been so lucky recently. Here's how the cash has flowed-and ebbed.