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SoftBank chairman and CEO Masayoshi Son. Photo: Alessandro Di Ciommo/NurPhoto via Getty Images

"The venture capital party is over" was the gist of countless mainstream and social media predictions in October, following WeWork's IPO collapse and SoftBank's difficulties in raising over $100 billion for its second Vision Fund.

Why it matters: They were wrong.

The big picture: Tuesday's issue of Axios Pro Rata includes 23 venture deals, totaling over $1.1 billion. Moreover, PitchBook data shows that startups have raised more venture dollars in November and December (to date) in 2019 than they did for the same period in 2018.

  • PitchBook also Tuesday morning released a series of 2020 VC predictions, one of which was that U.S. mega-venture deals will hit another record.
  • It argues that the driving trend of low global interest rates persists and adds that funds are flush with capital due to both rising public equities (e.g., denominator effect on VC allocations) and an active exit environment that generates large distributions that can be recycled.

Yes, there have been some changes to what sorts of companies VCs seek to support, including increased emphasis on financial fundamentals, but that's just about aiming the fire hose in a slightly different direction, not about shutting the spigot.

  • Only widespread calamity, beyond the private markets, has historically proven to deter venture capital. A few high-profile flameouts won't do the trick, particularly when there are still multibillion-dollar sales and IPOs are still outperforming what could be the S&P 500's best-ever year.

Go deeper:

Go deeper

Fintech's record year

Illustration: Annelise Capossela/Axios

Massive venture rounds into fintech companies have ballooned this year, pushing up total dollars invested — in just the first three quarters of 2021 — to nearly double the amount in all of 2020, per new PitchBook data.

Why it matters: The maturing of fintech startups means a growing number of companies are able to raise huge later-stage funding rounds as investors look to lock-in their bets.

Ben Geman, author of Generate
1 hour ago - Energy & Environment

Democrats' clean power outlook is very muddy

Illustration: Annelise Capossela/Axios

Here are two big questions as a key Democratic proposal to slash emissions from power generation flounders: how much its demise would sap climate protections, and what might replace it.

Catch up fast: New financial carrots and sticks for utilities to deploy zero-carbon power — the Clean Electricity Performance Program (CEPP) — look unlikely to stay in Democrats' big social spending and climate bill.

1 hour ago - Health

CDC: Unvaccinated are over 11 times more likely to die from COVID

Expand chart
Reproduced from CDC; Note: Data represents 30% of Americans across 16 jurisdictions: Alabama, Arizona, Arkansas, Colorado, Connecticut, Florida, Georgia, Idaho, Louisiana, Massachusetts, Michigan, Nebraska, New Mexico, New York City, Seattle/King County, Wash., Utah and Wisconsin; Chart: Danielle Alberti/Axios

The CDC recently published data evaluating Americans' rate of coronavirus cases and deaths by vaccine status, providing more data on which vaccines are working best and how much protection they offer relative to being unvaccinated.

What they found: As of August, unvaccinated people had a more than six times higher risk of testing positive for the coronavirus, and were more than 11 times more likely to die from the virus.