By Pete Settles
VC investment activity in the U.S. remains robust, reaching $31.5 billion during the second quarter of 2019, the result of a strong economy, solid performance of the public markets, and expectations of lower interest rates. That's according to KPMG’s latest Venture Pulse report.
The report also found increased investment in autonomous vehicle technology.
The survey found that investment was across a very broad range of verticals including logistics, food delivery, aerospace, consumer durables and technology.
The largest deals for the quarter in the U.S. included Flexport ($1 billion) and DoorDash ($600 million) from San Francisco, followed by New York-based automation firm UiPath that raised $568 million.
Access the full report here.
According to Conor Moore, co-author and co-leader of KPMG’s Venture Capital practice, the report also found increased investment in autonomous vehicle technology.
“The autonomous car space has turned into a race, and significant capital is required to be a viable contender," he said. "There are lots of startups out there but there will likely only be a few survivors.”
Moore also noted a heightened interest in meat alternatives, strong IPO activity including a game changing direct listing, and a booming M&A market as highlights for the second quarter.
Moore plays a critical role in the continued growth of the firm’s VC practice. He is also the San Francisco industry leader for KPMG’s Technology, Media & Telecom (TMT) practice and leads many of the firm’s emerging technology relationships in the Bay Area.
Please reach out to Pete Settles if you would like to speak with Conor Moore about the most recent Venture Pulse report or other topics around start-ups, VC investment or IPOs.