Q3 2016 Venture Capital Deals and Exits Download the Data Pack October 2016

Fig. 1: Global Quarterly Venture Capital Deals*, Q1 2011 - Fig. 3: Number of Venture Capital Deals* in Q3 2016 by Q3 2016 Fig. 2: Venture Capital Deals* in Q3 2016 by Region Investment Stage

3,500 50 100% 164 2.1 Angel/Seed 45 Aggregate Deal Value ($bn) 90% 53 0.6 3,000 1.3 201 40 80% 2% 7% Series A/Round 1 4% 2,500 0% 35 6.5 70% 476 2% Series B/Round 2 30 2,000 3% 33% 60% Series C/Round 3 25 2.4 6% 1,500 50% 20 372 Series D/Round 4 and Later No. of Deals 40% 1,000 15 Growth Capital/Expansion

10 of Total Proportion 30% 500 13.0 15% PIPE 5 20% 784 0 0 10% Grant

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 0% 28% Venture Debt 2011 2012 2013 2014 2015 2016 No. of Deals Aggregate Deal Value ($bn) Add-on & Other No. of Deals Aggregate Deal Value ($bn) North America Europe Greater China India Israel Other

Source: Preqin Private Equity Online Source: Preqin Private Equity Online Source: Preqin Private Equity Online

Fig. 5: Average Value of Venture Capital Deals*, 2014 - Fig. 6: Number of US Venture Capital Deals* in Q3 2016 by Fig. 4: Venture Capital Deals* in Q3 2016 by Industry Q1-Q3 2016 State

30% 120 26% 97 25% 23% 100 94 22% 80 2014 California 20% 80 78 17% 27% 15% 16% 15% 14% 60 2015 New York 12% 43 43% 10% 9% 8% 40 36 37 Massachusetts 8% 31 29 Q1-Q3

Proportion of Total Proportion 23 5% 23 20 2016 5% 4% 4% 20 18 18 Texas 2%2% 3% Deal Size ($mn) Average 1012 3% 2% 2% 2%1% 2% 8 9 1 1 2 4% 0% 0 Washington

Other Other OtherIT Internet Business Services Series Series B/ Round 2 Round Round 1 Round Clean Round 3 Round Series Series A/ Food & Food Series Series C/ Telecoms Related Industrials 15% Agriculture Software & Healthcare Consumer Technology Angel/Seed Discretionary Expansion 4 andLater 4 Venture DebtVenture Series Series D/Round

No. of Deals Aggregate Deal Value GrowthCapital/ Source: Preqin Private Equity Online Source: Preqin Private Equity Online Source: Preqin Private Equity Online

Page 1 of 3 *Figures exclude add-ons, grants, mergers venture debt & secondary stock purchases © 2016 Preqin Ltd. / www.preqin.com Q3 2016 Venture Capital Deals and Exits Download the Data Pack October 2016

Fig. 7: 10 Largest Venture Capital Deals* Announced Globally in Q3 2016

Portfolio Company Deal Date Investment Stage Deal Size (mn) Investor(s) Industry Location Uber Technologies, Inc. 01-Aug-16 Unspecified Round 1,000 USD Didi Chuxing Telecoms US Hangzhou BEST BOCI Private Equity, Cainiao, CDH Investments, CDIB Capital, China Development Bank Capital, China Huarong Logistics Technology 08-Sep-16 Unspecified Round 760 USD Asset Management, CITIC Private Equity Funds Management, Everbright Financial Holding Asset Management, Fosun Logistics China Co., Ltd. International, Goldman Sachs, International Finance Corporation, Liyue Investment, Softbank China Venture Capital Grab 20-Sep-16 Series F/Round 6 750 USD Softbank Telecoms Singapore Airbnb 22-Sep-16 Series F/Round 6 555 USD Google Capital, Technology Crossover Ventures Internet US Capital International, DST Global, Farallon Capital Management, Formation Group, KKR, Northstar Group, Rakuten Business Go-Jek 04-Aug-16 Unspecified Round 550 USD Indonesia Ventures, Sequoia Capital, Warburg Pincus Services Moderna Therapeutics 07-Sep-16 Unspecified Round 474 USD - Pharmaceuticals US Qufenqi.com 08-Jul-16 Pre-IPO 3,000 CNY Beijing Digital Grid Technology Co., Ltd, Fenghuang Xiangrui Fund Internet China Financial RocketSpace Inc. 03-Aug-16 Series B/Round 2 336 USD HNA Group US Services En Niu 20-Sep-16 Series C/Round 3 310 USD Angel Plus, Guosen Hongsheng, HG Capital, Shenzhen Qianhe Capital, Tiantu Capital, Xinhu Zhongbao Telecoms China Deliveroo 05-Aug-16 Series E/Round 5 275 USD Bridgepoint, DST Global, General Catalyst Partners, Greenoaks Capital Internet UK

*Figures exclude add-ons, grants, mergers, venture debt & secondary stock purchases Source: Preqin Private Equity Online

Fig. 10: Venture Capital-Backed Exits in Q3 2016 by Exit Fig. 8: Venture Capital-Backed Exits, Q1 2011 - Q3 2016 Fig. 9: Venture Capital-Backed Exits in Q3 2016 by Region Type

400 50 100% 200 10 0.4 0.1 5 45 0.6 Aggregate Exit Value ($bn) 90% 180 172 350 23 0.9 40 9 300 80% 160

35 l 70% 44 140 250 30 60% 120 200 25 50% 100 20 No. of Exits 150 10.1 15 40% 80 100 10 of Tota Proportion 30% 134 60 50 5 20% 40 22 0 0 10% 17 20 9.4 14

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 1.0 1.6 0.0 0% 0 2011 2012 2013 2014 2015 2016 No. of Exits Aggregate Exit Value ($bn) Trade Sale Sale to GP IPO Write-off

No. of Exits Aggregate Exit Value ($bn) North America Europe Greater China India Israel Other No. of Exits Aggregate Exit Value ($bn) Source: Preqin Private Equity Online Source: Preqin Private Equity Online Source: Preqin Private Equity Online

Fig. 11: 10 Largest Venture Capital-Backed Exits Announced Globally in Q3 2016

Portfolio Date of First Total Known Exit Exit Value Investor(s) Exit Date Acquiror (Exit) Industry Location Company Investment Funding (mn) Type (mn) Accel Partners, Alibaba Group, Bain Capital Ventures, Coatue Management, Fidelity Investments, General Catalyst Partners, Goldman Sachs, GV, MentorTech Trade 3,300 Jet.com 29-Jul-14 570 USD 08-Aug-16 Wal-Mart Internet US Ventures, New Enterprise Associates, Norwest Venture Partners, Silicon Valley Sale USD Bank, Temasek Holdings, Thrive Capital, Western Technology Investment Andreessen Horowitz, Battery Ventures, Comcast Ventures, Dragoneer Dollar Shave Investment Group, Felicis Ventures, Forerunner Ventures, Kleiner Perkins Trade 1,000 06-Mar-12 148 USD 19-Jul-16 Unilever Internet US Club Caufield & Byers, Pritzker Group Venture Capital, Shasta Ventures, Technology Sale USD Crossover Ventures, Venrock, White Star Capital Sagent Trade Nichi-iko 26-Sep-07 Vivo Capital, Zhejiang Hisun Pharmaceutical Co. Ltd. 153 USD 11-Jul-16 736 USD Pharmaceuticals US Pharmaceuticals Sale Pharmaceutical Co Ltd Accenture, Bay Partners, BlackRock, BlackRock Capital Partners, Focus Apigee Ventures, In-Q-Tel, Juniper Ventures, Norwest Venture Partners, Pine River Trade 01-May-05 195 USD 08-Sep-16 Google Inc. 625 USD IT US Corporation Capital Management, Sapphire Ventures, Third Point Ventures, Wellington Sale Management Trade Quip 30-Jul-13 Benchmark Capital, Greylock Partners 45 USD 01-Aug-16 Salesforce.com 582 USD Software US Sale Beijing Shanhai Capital Analogix Management,China DCM, Globespan Capital Partners, IDG Capital Partners, Japan Asia Investment Sale to Semiconductor, 30-Jun-05 39 USD 22-Sep-16 Integrated Circuit 500 USD Semiconductors US Company, Keytone Ventures, Woodside Fund GP Inc. Industry Investment Fund Allen & Company, AME Cloud Ventures, CME Group Inc., Data Collective, Draper Trade Nervana Systems 17-Apr-14 Fisher Jurvetson, Fuel Capital, Lux Capital Management, Omidyar Network, SV 24 USD 09-Aug-16 Intel Corporation 408 USD Hardware US Sale Angel Takeaway.com 09-Jan-12 Macquarie Capital, Prime Ventures 118 USD IPO 30-Sep-16 328 EUR Internet Netherlands BV AlpInvest Partners, Global Life Science Ventures, Lombard Odier Darier Hentsch, Trade Laboratory Corporation Sequenom 14-Jan-98 231 USD 27-Jul-16 302 USD Biotechnology US Merifin Capital, OMTI, Silicon Valley Bank, SR One, STAR Ventures, TVM Capital Sale Of America CBC Capital, Eight Roads Ventures Asia, F&H Fund Management, Tiger Global Trade Mtime.com 10-Oct-06 24 USD 28-Jul-16 Wanda Cinema 280 USD Internet China Management, Wanda Cinema Sale

Source: Preqin Private Equity Online

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