Oct 8, 2021 - Economy & Business

Q3 global venture capital funding hits record high

Illustration of stacks of money progressively getting larger with the last one so tall that it goes off screen.

Illustration: Aïda Amer/Axios

Global venture capital funding hit an all-time record in Q3, topping $158 billion, per a report from CB Insights.

Driving the news: That's more than double the Q3 2020 total, and more than any full-year totals before 2018. Or, put another way, startups raised more in three months of 2021 than during the entire dotcom boom years of 1999 or 2000.

  • Mega-rounds (of $100 million or more) are driving the surge, accounting for just 4% of total deals but 58% of dollar volume.
  • The median late-stage deal valuation hit $1.1 billion, more than the 2020 median. This means the median late-stage deal now creates a unicorn (also, one-third of new unicorns are in fintech).
  • The quarter's busiest firm in Q3 wasn't Tiger Global or Insight Partners. It was Sequoia Capital China, averaging an insane 1.5 deals per day.
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