Q1 venture capital data shows promise, but slump expected Q2

The PitchBook-NVCA Venture Monitor for Q1 of 2020 shows just a few signs of investment activity slowing down. The high and low ends of the VC spectrum appear particularly robust, with the number of angel (653) and mega (62) deal counts both almost exactly on track to match 2019’s figures. Seed deals (335) appear to be behind, at about 50 percent of last year’s pace — although reports of these investments often lag well behind when they occur, and early-stage VC deals (634) are also well behind the pace of the last several years. On the fundraising side, total funds closed were down from last year’s pace by about 20 percent ($21 billion into 62 funds). Q1 included only a few weeks of COVID-19’s national presence, and the next report will likely tell a much fuller story of the pandemic’s impact for equity investment.