Fintech PR
Robust end to 2019 with US$63.1 billion raised by VC-backed companies in the fourth quarter, according to KPMG Private Enterprise’s Venture Pulse report
The final quarter of 2019 brought a small uptick in VC investment globally, with $63.1 billion in VC investment across 4,289 deals, led by a $6.55 billion corporate investment in The We Company – a strategic investment by Softbank following WeWork’s failed IPO. Given the array of political and economic uncertainties affecting most regions of the world in Q4’19, it is notable that the Americas, China, India, and Europe all saw at least one $1 billion+ deal during the quarter.
As a whole, 2019 was a very strong and relatively stable year for VC funding, with $257 billion raised across the globe – the second highest level on record next to 2018’s over $300 billion, according to the Q4’19 edition of KPMG Private Enterprise’s Venture Pulse report. The robust results are notable given the year did not include any massive $10 billion+ megadeals like those raised by Juul ($12.8 billion) and Ant Financial ($14 billion) in 2018.
“The results highlight the strength that comes with having a diversity of growing startup ecosystems around the world. While different jurisdictions may have experienced challenges at different points of 2019, VC investment in others picked up the slack,” explained Kevin Smith Co-Leader, KPMG Private Enterprise Emerging Giants Network, KPMG International and EMA Head of KPMG Private Enterprise. “Europe, in particular, shattered its previous annual high of VC investment, attracting $37.5 billion in 2019 and set a new record, with 18 new unicorns in 2019 compared to 12 in 2018 and only 6 in 2017. The breadth and diversity of Europe’s VC market and growing innovation ecosystems continued to attract deep pocketed investors from across the globe, with companies in the UK, Germany, the Netherlands, Spain, Lithuania, Israel, and France all attracting $100 million+ funding rounds.”
Q4’19 Highlights
- Global VC investment rose from $62 billion across 5,453 deals in Q3’19 to over $63 billion across 4,289 deals in Q4’19. The US alone accounted for more than half of VC investment globally during
- Q4’19, with $34.2 billion of investment across 2,215 deals.
- At a regional level, the Americas led VC investment in Q4’19, with $36.2 billion raised across 2,400 deals. Asia followed with $18.7 billion raised across 1,021 deals, while Europe saw $9 billion raised across 804 deals.
- The largest deals this quarter occurred in three different countries: US-based The We Company ($6.5 billion – corporate investment), China-based Tenglong Holding Group ($3.7 billion – Series A), and India-based PayTM ($1.7 billion – Series G).
- The percentage of investment by corporates reached an all new high in Q4’19, with corporates participating in 29.4% of all VC deals globally.
Key 2019 Annual Highlights
- For the third consecutive year, global median deal sizes rose across all deal stages in 2019 – to $1.7 million for seed/angel deals, $8 million for early stage deals, and $10.3 million for later stage deals.
- The global median deal size for Series D and higher was $58 million in 2019, up from $50 million in 2018 – and more than triple the $15.9 million it was in 2013.
- For the third year in a row, global median pre-money valuations rose across all deal stages in 2019, including to a massive $423.5 million for Series D or later rounds. Other global median pre-money valuations were $7 million for seed stage rounds, $22 million for Series A, $70 million for Series B, and $150 million for Series C deals.
- The number of global first-time venture financings of companies dropped for the fifth year in a row – to 5,878 in 2019. Deal value in 2019 was $23.9 billion – second only to 2018’s $29.7 billion. The combination suggests that investors are scrutinizing deals heavily and investing more in companies with stronger business fundamentals.
US continues to dominate investment in Americas
VC investment in the Americas rose slightly, from $34.6 billion in Q3’19 to $36.2 billion in Q4’19. The largest deals in the Americas came from the US, including the $6.5 billion corporate investment in The We Company, a $700 million raise by Door Dash, a $635 million raise by Bright Health, and a $500 million raise by Magic Leap. The 10 largest deals in the US spanned numerous sectors, including real-estate, food delivery, health care, virtual reality, fintech, publishing, and logistics. The top deals also showed strong geographic diversity, with several deals well outside of Silicon Valley – such as in Florida (Magic Leap), Minneapolis (Bright Health), Seattle (Convoy), and Portland (Vacasa).
Despite small quarter-over-quarter declines in VC investment, Canada and Brazil both saw strong VC investment for the year as a whole, including a number of $100 million+ megadeals during Q4’19. In Canada, top deals included a $200 million raise by Toronto-based password management company 1Password. In Brazil, annual VC investment grew year over year – from $1.7 billion in 2018 to almost $2.1 billion in 2019 – setting a large new annual record. Brazil also saw three new unicorns created in 2019, including three in Q4’19: Loggi, QuintoAndar and Wildlife Studios.
Europe shatters annual record for VC investment
Europe shattered its previous annual high of VC investment, attracting $37.5 billion in VC investment in 2019 compared to $28.2 billion in 2018. After setting a new quarterly record of $10.8 billion in VC investment in Q3’19, VC investment dropped to $7.9 billion in Q4’19 – still a very robust amount for the region.
The UK proved fundamentally resilient to concerns around Brexit, attracting a record high $11.9 billion in VC investment during 2019, including more than $2.5 billion in Q4’19. Large deals in Europe during Q4’19 included a $525 million raise by UK-based Deliveroo, a $284 million raise by Celonis in Germany, and a $276 million raise by Picnic in the Netherlands. Germany, France, and Spain also reached new annual records for VC investment in 2019.
VC investment in Asia falls year-over-year
After achieving a massive record of $126 billion in 2018, Asia-based VC investment fell to $73 billion in 2019. On a quarterly basis, VC investment rose slightly to $18.7 billion in Q4’19, led by a $3.7 billion Series A round by Tenglong Holding Group in China, a $1.7 billion raise by PayTM in India, and a $1 billion raise by China-based Beike.
VC investment in China remained steady quarter-over-quarter at $11.1 billion, although the two largest deals in China accounted for $4.7 billion of this total during Q4’19. With four consecutive quarters of growth – including its second highest quarter of investment in Q4’19 ($4.6 billion), India achieved a new annual record high of over $12.5 billion in VC investment in 2019. Australia also saw its second-highest quarter of VC investment in Q4’19 ($339 million).
Future outlook positive, yet cautious
The challenges associated with WeWork’s IPO, combined with the mixed results associated with other unicorn IPOs during 2019 raised significant concerns regarding the profitability of companies – particularly unicorn companies on the path to IPO. These concerns will likely have VC investors undertaking more due diligence with respect to potential deals. Companies without strong business models and paths to profitability will likely find it more challenging to raise funds in the future.
“In 2019, we saw numerous unicorn companies IPO with a broad range of outcomes. Over the next few months, we’ll likely see this IPO activity continue as companies look to get out before the November presidential election in the US,” said Conor Moore, Co-Leader, KPMG’s Emerging Giants Network. “However, we are going to see companies, particularly consumer-focused companies, taking some time to put their financial house in order and to really prove the unit economics of their business models to investors. Profitability or a clear path thereto is going to be a key success factor for IPOs moving forward.”
SOURCE KPMG International
STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
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https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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